Tuesday, October 22, 2019

Comet confirms closure of 125 stores


Administrators of flailing retailer Comet have today announced plans to close a further 125 stores in the run-up to Christmas as no firm offer has been made for the whole business.

Approximately 70 stores will continue trading following this process until all of the remaining stock is sold while its Harlow distribution centre is to close on Friday November 30th as its Skelmersdale centre continues to support the store network.

Lat week, e-commerce retailer Appliances Online confirmed that it had offered Comet a seven-digit sum to acquire its website, fuelling speculation that the retailer is set for an online-only future.

Deloitte‘s administrators said that its support functions in Rickmansworth, Hull and Clevedon “will be further reduced” though did not comment on reports that all stores and its centre are set to close by Christmas unless a suitable buyer is identified in the coming days.

Chris Farrington, Joint Administrator, explained: “We remain in discussions with a small number of interested parties and hope that a positive outcome can still be achieved.

“Should any acceptable offers be received for stores we will delay the closure process.

“Unfortunately, in the absence of a firm offer for the whole of the business, it has become necessary to begin making plans in case a sale is not concluded. If a sale is not possible we would envisage stores to begin closing in December.”