Comet: Fears over future
Jobs fears over future of electrical retailer Comet
Stephen Pullinger
Thursday, November 1, 2012
9:47 AM
Electricals chain Comet looks to be on the brink of administration in a move threatening the jobs of staff at three stores in Norfolk.
The company’s position, which could be confirmed later today, will represent one of the biggest failures on the high street in recent years.
The retailer, which has outlets in Norwich, Great Yarmouth and King’s Lynn, employs an estimated 6,000 people across the country.
Comet was bought for a nominal £2 by investment firm OpCapita earlier this year but has been unable to secure the trade credit insurance needed to safeguard suppliers.
Restructuring specialist Deloitte has reportedly been lined up for the administration and will begin by attempting to secure buyers for the company’s 240 stores.
The move raises the prospect of a pre-Christmas rush for discounted stock as the administrator looks to wind down supplies and raise cash for creditors.
Comet’s reported collapse is one of the biggest since the demise of Woolworths in 2008 and comes a month after the failure of JJB Sports. Other recent casualties have included Clinton Cards, Blacks Leisure, Game and Peacocks.
If you work for Comet in Norfolk we would like to hear what you have been told. Call Stephen Pullinger on 01603-772446.
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10 comments
Our Member of Parliament refuses to support a Public Inquiry. Our Borough and County Councillors kept no checks on Unelected Officers. Because of these three groups, we totally lost control of our Port, even though three councillors were paid from Ratepayers funds to attend GYPA meetings to look after the Ratepayers interests but there were no meetings. And the unelected officers miss-guided the gullible councillors into giving millions of pounds in cash, land, buildings and plant to a group of bankers that have no experience in operating an energy related port, and in trying to make cash for their shareholders ruined any chance of a Ferry Service that would have brought tourists to fill our shops and hotels, manufacturing industry, renewable energy all would have had a stable platform to work from In the meantime the three groups are still being paid in full and getting their Bonus.
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John L Cooper
Thursday, November 1, 2012
Our Member of Parliament refuses to support a Public Inquiry. Our Borough and County Councillors kept no checks on Unelected Officers. Because of these three groups, we totally lost control of our Port, even though three councillors were paid from Ratepayers funds to attend GYPA meetings to look after the Ratepayers interests but there were no meetings. And the unelected officers miss-guided the gullible councillors into giving millions of pounds in cash, land, buildings and plant to a group of bankers that have no experience in operating an energy related port, and in trying to make cash for their shareholders ruined any chance of a Ferry Service that would have brought tourists to fill our shops and hotels, manufacturing industry, renewable energy all would have had a stable platform to work from In the meantime the three groups are still being paid in full and getting their Bonus.
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John L Cooper
Thursday, November 1, 2012
Comet, House of Wax, and yet more smaller shops all either closing or shedding staff! I seems it’s always the Ratepayer or potential Ratepayer that is made to suffer, whilst the well to do may see a drop in their shares but their standard of living stays the same. There is another group whose way of life does not vary when the common man is suffering when employment prospects fail. That group is small by comparison to the numbers in fear of losing their lively-hood but they control the Ratepayers future. The group are Members of Parliament, Councillors, and Council Unelected Officers. The Borough of Great Yarmouth is struggling more than at any other time. Throughout the centuries the Borough has prospered because it had its river at its heart. Because of the actions of this group of three the Borough’s heart is lost, they caused the Borough’s “earning engine” to be lost, not just to shipping but to manufacturing, renewable energy, domestic sales, and our holiday trade.
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John L Cooper
Thursday, November 1, 2012
Comet, House of Wax, and yet more smaller shops all either closing or shedding staff! I seems it’s always the Ratepayer or potential Ratepayer that is made to suffer, whilst the well to do may see a drop in their shares but their standard of living stays the same. There is another group whose way of life does not vary when the common man is suffering when employment prospects fail. That group is small by comparison to the numbers in fear of losing their lively-hood but they control the Ratepayers future. The group are Members of Parliament, Councillors, and Council Unelected Officers. The Borough of Great Yarmouth is struggling more than at any other time. Throughout the centuries the Borough has prospered because it had its river at its heart. Because of the actions of this group of three the Borough’s heart is lost, they caused the Borough’s “earning engine” to be lost, not just to shipping but to manufacturing, renewable energy, domestic sales, and our holiday trade. Our Member of Parliament refuses to support a Public Inquiry. Our Borough and County Councillors kept no checks on Unelected Officers. Because of these three groups, we totally lost control of our Port, even though three councillors were paid from Ratepayers funds to attend GYPA meetings to look after the Ratepayers interests but there were no meetings. And the unelected officers miss-guided the gullible councillors into giving millions of pounds in cash, land, buildings and plant to a group of bankers that have no experience in operating an energy related port, and in trying to make cash for their shareholders ruined any chance of a Ferry Service that would have brought tourists to fill our shops and hotels, manufacturing industry, renewable energy all would have had a stable platform to work from In the meantime the three groups are still being paid in full and getting their Bonus.
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John L Cooper
Thursday, November 1, 2012
The government confiscates most of peoples money in tax so they can't afford to drink or buy consumer durables! so pubs go bust and businesses go to the wall! Hence another major retailer bites the dust!
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Harry Rabinowitz
Thursday, November 1, 2012
I think when Comet was sold to Opcapita for £2 it was only a matter of time before they dangled from the administrators rope for a second time. Well in the case of Comet not a rope just a 10m HDMI cable costing over £120 !
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chebram71
Thursday, November 1, 2012
Will the last person to leave Yarmouth Please put out all the lights, Seriously its getting beyond a joke now. There is nothing left in Yarmouth as it is
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Gorlmouth
Thursday, November 1, 2012
ingo Amazon,Apple, Payday Loan sharks,Bookies, most online internet companys...
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billythebookie
Thursday, November 1, 2012
Comet 6000 loose their jobs, our local Health services announced 500 job losses, Ford, another 1600 made redundant. But the economy is improving... Where? which businesses are doing well apart from the arms industry and its suppliers?
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ingo wagenknecht
Thursday, November 1, 2012
Glad I didn't buy my new cooker from them as I nearly did a couple of months ago, they didn't have a decent one to buy so went elsewhere.
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Spooky
Thursday, November 1, 2012