Comet stores open for final day

The failed retailer's 49 remaining stores open their doors for the last time as the brand disappears from UK retail
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The failed electrical retailer has opened its doors for the last time today as the brand disappears from UK retail.

Administrator Deloitte confirmed yesterday that it would be forced to close Comet's remaining 49 stores after it failed to secure a buyer for the business.

Many of the brand's stores closed their doors for the last time last weekend, with just this handful remaining open for business.

It is expected that 6,600 jobs are to be lost following Comet's collapse, leaving axed employees unemployed just one week ahead of Christmas.

However, Deloitte remains resilient that a buyer could still be found for Comet's website, whilst rival electrical retailer Dixons could move in to take on a number of stores, after taking on 1,000 former Comet employees for seasonal positions.

The collapse of Comet is the latest high profile High Street failure, following on from the demise of Woolworths in 2008 and specialist retailer GAME's brush with administration earlier this year.

Unsecured creditors are expected to receive less than one per cent of the money owed to them, whilst the Government is expected to step in to aid redundancy payments, with the Redundancy Payments Service fronting the £23.3m pay-out.

Because of this, the business secretary Vince Cable has launched an investigation in to how Comet's collapse was able to happen.

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