Comet collapse sparks job fears

Electricals giant Comet is facing administration.

Electricals giant Comet is facing administration.

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The firm, which has about 240 stores across the UK, today confirmed plans for it to be placed into administration next week, marking one of the UK’s biggest retail failures in recent years.

Staff were informed of plans this morning and restructuring specialist Deloitte has been lined up to handle the administration.

Comet said it was ‘urgently working’ on plans to secure the company’s future and it is expected administrators will seek a buyer for the business.

 

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