Comet administrators to close 40 stores, 1,000 jobs under threat

The administrators to Comet are to close around 40 stores, threatening up to 1,000 jobs.

Deloitte plans to close the stores by the end of the month, with closing down sales being accelerated at 30 of the shops this weekend.

The administrators are working on plans to save some of the jobs threatened by the closures by redeploying staff to other Comet sites.

However, there are also concerns about a further 500 Comet staff working on its delivery service. Deloitte plans to close Comet’s home delivery service on Sunday.

The Daily Telegraph reported on Thursday that Comet staff were braced for mass lay-offs after Deloitte began consultations with all of the electrical retailer’s staff.

The administrators have told Comet staff that they were beginning a “collective consultation programme” because of the “potential for redundancies” and the “possibility of a transfer of some or all of the Comet business”.

The planned store closures represent around a sixth of Comet’s portfolio. The company has 236 shops in the UK and employed 6,611 people when it collapsed into administration.

Comet, which was bought by private equity firm OpCapita for £2 less than a year ago, called in administrators earlier this month.

Deloitte has already cut jobs in Comet’s head office, including a collection of senior staff.

A number of businesses have expressed an interest in parts of Comet, but hopes of a saviour for the entire company are fading.

Deloitte declined to comment.