Comet formally collapses as staff predict it will close down in weeks - The Sun

COMET will be gone in weeks, its staff predicted last night.

As the bust electricals store formally collapsed into administration, discounts were promised across its stores today.

The move came as accountant Deloitte was appointed last night, 36 hours earlier than expected.

The City firm handled the administration of Woolworths in 2008.

It immediately brought in liquidation specialists GA Europe — as predicted by The Sun two days ago.

All 236 stores will reopen this morning after being temporarily closed for a stock take yesterday.

Deloitte said vouchers and gift cards would be suspended while it assessed the situation.

Deliveries will be honoured where possible.

Furious workers said they doubted the business would make it to the end of the month.

Deloitte said there were no current plans to sack any of the 6,611 staff, but one angry worker said: "Everyone has accepted that we will be jobless very soon.

"The rumour is that Comet won't last another two weeks."

Deloitte blamed Comet's downfall on the fall in first-time property buyers kitting out a home.

s.hawkes@the-sun.co.uk

Shops hit by anger

By JAMES MILLS

A FURIOUS Comet customer remonstrates with a staff member yesterday as Brits vented their anger on the stricken store.

The man forced his way in through the doors behind a delivery driver to try to collect a £200 tablet which he had paid for.

The store in Crawley, West Sussex, was shut until 1pm.

Meanwhile an angry mob gathered outside a branch in Rotherham, South Yorks.

Staff called 999 when about 30 customers turned up demanding goods they had paid for after hearing the chain had gone bust.

Police said no arrests were made.

myView

By STEVE HAWKES, Business Editor

FOUR years on from the collapse of Woolworths, Comet enters the same death throes. Deloitte and its top partner Neville Kahn were administrators then too.

A big sale starting today will ensure customers arrive in droves, with all money taken at the till going to the lenders and creditors, including Comet's owner until yesterday, the "turn-around expert" OpCapita.

Meanwhile there is precious little information on what happens to voucher holders.

Comet was always unlikely to survive, but the ruthless way the end game is played out on the high street these days stinks.