Shropshire job loss fears as Comet goes into administration
Electricals retailer Comet which has two branches in Shropshire has gone into administration threatening an estimated 6,000 jobs across the UK.
Comet’s collapse is one of the biggest since the demise of Woolworths in 2008 and comes a month after the failure of JJB Sports. Other recent casualties have included Clinton Cards, Blacks Leisure, Game and Peacocks.
Comet was bought for a nominal £2 by investment firm OpCapita earlier this year but has been unable to secure the trade credit insurance needed to safeguard suppliers. Comet is thought to have had operational losses of about £35m last year.
Restructuring specialist Deloitte is to handle the administration and will begin by attempting to secure buyers for the company’s 240 stores.
The electrical retailer has two branches in Shropshire at Meole Brace Retail Park in Shrewsbury and Telford Bridge Retail Park.
