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Comet's administrator confirms over 40 store closures, more job losses inevitable

Greg Lockley
Comet's administrator confirms over 40 store closures, more job losses inevitable

Administrator of Comet, Deloitte, has confirmed it plans to close 41 of the struggling retailer's stores.

Deloitte revealed earlier this week that unless a buyer could be found for areas of Comet's business, then it would be forced to axe some of the electrical chains stores.

The affected stores are currently scheduled to close towards the end of November.

Following the news, Deloitte announced that Comet would be hosting a closing down sale over the weekend, which has begun in 27 stores today and will continue to a further 14 stores across the UK from tomorrow.

Additionally, a number of products will be heavily discounted in the remaining 195 of Comet's remaining stores outside of the sale event.

In the hope of limiting more job losses, Deloitte has started a redeployment process in order to allocate staff from closing stores of other areas of Comet's business, however, has confirmed that a number of redundancies will be inevitable.

Chris Farrington, Joint Administrator, said: "We are very grateful to the company's employees for their professionalism, loyalty and support at this difficult time and all employees will of course continue to be paid for all the work they do while the company is in administration."

Deloitte remains in talks with interested parties looking to purchase parts of Comet's business whilst the store closure programme is initiated.

A dedicated employee helpline has been established, whilst the firm is also hosting an employee assistance programme in order to aid staff made redundant find other work.

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Tags: Retail, Comet, event, store, sale, deloitte, job losses, closures, administrator, Chris Farrington

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