1 November 2012 - 9:57am | posted by | 0 comments

Comet crashes as administrators wait in the wings, according to reports

Comet crashes as administrators wait in the wings, according to reportsComet crashes as administrators wait in the wings, according to

High Street retailer Comet could be on the brink of calling in administrators, according to reports circulating in the Financial Times and Retail Week.

They suggest that Deloitte is already being lined up to perform the role with the chain's owners close to throwing in the towel.

The electrical group was bought by private equity firm OpCapita last year for the nominal sum of just £2, but has continued to haemorrhage cash amidst weak consumer spending.

OpCapita, with the former chief executive of Dixons Retail at the helm, had hoped to turn the retailers flagging fortunes around but analysts suspect it has been suffering operational losses of around £35m.

Comet currently owns 240 stores across the country employing around 6,000 people.

Be the first to comment on this article: sign in or register.

Latest Projects from the Profile Hub

A Facebook community for Jamaica Ginger Cake

McVitie’s Jamaica Ginger Cake is one of the nation’s best...

Orchid - Luxury interiors with an oriental soul

Orchid is a retailer specialising in exceptional furniture...

Simplicity at the core of banking

Banking’s a pretty complex offering: a world of options to...

CALA Homes Group: Building a digital home with style & function

Why. CALA is a leader in the housebuilding industry, but...

Tunisia Tourist Figures & Media Coverage Revitalised in 2014

2014 was a positive year for Tunisia as continued political...