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Comet's UK store network on brink of break up

Greg Lockley
Comet's UK store network on brink of break up

Administrator for the troubled retailer, Deloitte, has warned that it may be forced to sell individual parts of the business to interested parties.

Deloitte admitted the growing issue within a letter sent out to Comet's employees, stating that if it is unable to find a suitable buyer, then it may need to sell off areas of the business.

"This [consultation] intended to offer a means to provide information about the company's plans for the future and the representatives of the employees to raise questions, and air their view on any proposals, including any redundancies or measures affecting employees whose employment may transfer to any potential buyer of all or part of the Comet business," the letter reads.

It follows the news earlier this week that rival electrical retailers Dixons Retail and Maplin, as well as a host of other online traders, were in talks with Deloitte to adopt areas of Comet's business operations.

In a statement to PCR during the week, Deloitte remained confident that there would be no further job losses or closures of the retailer's 330 stores.

However, with this most recent news, it seems that it is an increasingly likely scenario if a suitable buyer for the business cannot be found.

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Tags: Comet, Stores, UK, retailers, maplin, rival, deloitte, dixons retail, closures, break up

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