PCR Tech and IT retail, distribution and vendor news
Comet staff have accused the company’s creditor OpCapita of using the company as a short term investment and are demanding a full inquiry in to the equity firm and its chief executive.
An online petition is currently under way to get the investigation started. Apparently, despite promises from OpCapita that it would turn the company around, staff say that Comet was essentially asset-stripped until it could no longer function as a business.
In addition, the petition raises questions as to where the money that OpCapita claimed to have invested went. When it took on the ailing retailer, OpCapita claimed it was investing £35 million of its own money as well as £50 million from Kesa, however employees say that it wasn’t used in any demonstrable way – such as stock replenishment.
"The promise was made that OpCapita would turn our fortunes around. Yet all that’s happened is that we’ve been stripped down piece by piece until the company wasn’t self sustainable any more," reads the petition.
"The staff of Comet deserve to know everything regarding it’s downfall as we are currently working under the shadow of redundancy on a day to day basis with no communication from OpCapita whatsoever.
"The staff at Comet are expected to carry on doing our jobs, making money for the administrators to give to the creditors of which OpCapita will be one to make the most gain. We should not lose our jobs due to an obvious short term investment.
"Why should this company be allowed to profit from 6600+ members of staff losing their jobs?"
–
Want to receive up-to-the-minute tech news straight to your inbox? Then click here to sign up for the completely free PCR Daily Digest and Newsflash email services. You can also follow PCR on Twitter and Facebook.
