41 Comet stores to close by end of the Month

High street electronics retailer Comet has earmarked 41 locations for closure by the end of November, unless a buyer can be found for the troubled company.

The company, which currently has 236 stores around the UK, collapsed earlier this month with administrators Deloitte announcing closing down sales in order to move stock inventory.

“Regrettably… it is necessary to begin a store closure programme and an employee consultation process is under way,” Deloitte said in a statement

“While the administrators will look to redeploy staff from any stores which do face closure to other stores nearby, there will inevitably be redundancies.”

Unless a buyer comes in, the closures will result in the loss of a further 869 jobs.

On Monday the administrators announced that it would also be virtually ceasing Comet’s home delivery service, once current orders have been accounted for.

603 employees at the 12 hubs across the UK will lose their jobs, bringing the total job losses so far up to 2,000. The company has 6,500 employees in total.

According to the Telegraph, Deloitte is hoping that talks with potential outside buyers can save up to 50 of the locations, but it appears unlikely that the Comet brand name will live on

Source: Telegraph