Jobs at risk at electrical chain Comet (From Witney Gazette)

Jobs at risk at electrical chain Comet

9:30am Friday 2nd November 2012 in News

ELECTRICAL retail chain Comet – which has two stores in Oxfordshire – confirmed yesterday that it will go into administration next week.

The company, which has 240 stores nationally and employs about 6,500 staff, was not able to confirm yesterday how many people it employs in the branches in Botley Road, Oxford, and Banbury Cross Retail Park.

Comet was bought by investment firm OpCapita for a nominal £2 in February.

A statement from the company said: “Comet Group Limited can confirm that it has today taken steps to seek the protection of the court with a view to the company entering into administration during week commencing November 5, 2012. In the meantime, the board is urgently working with its advisers to seek a solution to secure a viable future for the company.”

John Hannett, General Secretary of the shopworkers’ union Usdaw said: “This is disastrous news for Comet’s 6,500 employees and more grim news for the UK High Street and economy. We urge any administrators appointed to keep stores trading for as long as possible to enable a buyer or buyers to be found.

“While every failure in the retail sector has its own specific causes, there can be no doubt that the continuing squeeze on people’s incomes caused by the government’s reckless austerity policies lies behind much of the sectors’ current difficulties.”