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Comet Gift Vouchers Now Back In Business

(c) Sky News 2012

Gift cards can be used again at Comet after their suspension was lifted by the administrator of the stricken electrical retailer.

Deloitte, which was appointed last Friday, is hunting for a buyer for the business after it collapsed in an attempt to protect some 6,600 jobs at the 236-outlet chain.

The administrator suspended the use of gift cards as it assessed the business, but said vouchers purchased and paid for in full could now be used again by members of the public.

However, Deloitte is maintaining the temporary suspension on gift cards which have been issued to people on behalf of a corporate customer.

Spokesman Neville Kahn said: "We recognise that the temporary suspension of gift cards has caused concern and anxiety to those customers affected.

"In the short time available since our appointment the administrators have worked urgently to bring clarity to this matter, while at the same time stabilising the business and seeking a buyer.

"We are very grateful to customers for their patience in allowing us time to properly assess the situation."

Deloitte said it intends to fulfil customer orders where the item is currently in stock in the delivery centres.

If stock is not available and customers do not receive their order, people who have paid by credit card may be eligible for a refund from their credit card provider.

The collapse of Comet marks one of the biggest high street casualties since the demise of Woolworths (Xetra: 81350.DE - news) in 2008 and comes a month after the failure of JJB Sports.

Comet was taken over in February by investment firm OpCapita, which bought the chain for a nominal £2.

The high street electricals market in the UK has come under huge pressure as shoppers put off purchases of big-ticket items such as TVs (Taiwan OTC: 8264.TWO - news) and large appliances.

Their online rivals, meanwhile, have been taking a bigger slice of the sector.

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