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Deloitte to face investigation over Comet liquidation

Laura Barnes
Deloitte to face investigation over Comet liquidation

Business Secretary Vince Cable is to launch an investigation into three accountants who oversaw Comet’s liquidation.

The Deloitte accountants will be investigated by the ICAEW over the demise of the retailer, which saw almost 7,000 employees lose their jobs.

The investigation is likely to focus on whether the accountants breached industry guidelines and whether they failed to consult Comet staff before they were made redundant.

Last month, thousands of the former employees won a multi-million pound pay out after a tribunal found that they had not been properly consulted before losing their jobs.

Founded in 1933, KESA sold Comet to investment firm OpCapita in September 2011 for just £2. The retailer went into administration in November 2012 with all Comet stores closing by December of the same year.

Last year, Clive Coombs announced his plans to resurrect the Comet name, launching a new retailer called Meridian Comet.

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Tags: Retail, Comet, investigation, deloitte, liquidation, vince cable

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