Jobs threat as Comet enters administration (From Hampshire Chronicle)
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Jobs threat as Comet enters administration
9:38am Thursday 1st November 2012 in Hampshire Business
Comet on the brink of administration
SCORES of Hampshire jobs are under threat as electricals chain Comet is poised to enter administration.
Comet’s management confirmed to staff this morning that it plans to enter administration next week.
The company's demise, which is expected to be confirmed later, is one of the biggest high street failures in recent years, putting 6,000 jobs at risk.
Restructuring specialist Deloitte has reportedly been lined up for the administration and will begin by attempting to secure buyers for the company's 240 stores, including six in Hampshire.
Comet was bought for a nominal £2 by investment firm OpCapita earlier this year but has been unable to secure the trade credit insurance needed to safeguard suppliers.
The move raises the prospect of a pre-Christmas rush for discounted stock as the administrator looks to wind down supplies and raise cash for creditors.
Comet's reported collapse is one of the biggest since the demise of Woolworths in 2008 and comes a month after the failure of JJB Sports. Other recent casualties have included Clinton Cards, Blacks Leisure, Game and Peacocks.
The high street electricals market in the UK has come under huge pressure as cash-strapped shoppers put off purchases of big-ticket items such as TVs and large appliances and online rivals take a bigger slice of the sector.
America's Best Buy recently pulled the plug on 11 giant electricals stores, including one in Hedge End, after failing to make inroads into the UK market.
Comet was founded in 1933 by George Hollingbery in Hull as Comet Battery Stores Limited - a two-man business charging batteries and accumulators for customer wireless sets. The company moved into the radio rental business and by 1939 had 2,500 accounts.
The first Comet superstore opened in Hull in 1968 and the company was listed two years later, before being acquired by Kingfisher for £129 million in 1984. Comet then acquired Norweb Retail and increased its store portfolio to more than 250 nationwide in 1996.
It demerged from Kingfisher in 2003, with Comet and its sister electrical companies throughout Europe forming a new group known as Kesa Electricals.
Comments(26)
sotonbusdriver
says...
9:57am Thu 1 Nov 12
This was a Country, of shopkeepers, soon it will be a Third World nation...
davehills
says...
10:13am Thu 1 Nov 12
Personally, I have not shopped @ Comet for many years after a bad experience buying a telly.
I bought a TV from their West Quay store (Now closed) purely on the basis of promises made by the salesman.
Got the set home and it turned out he blatantly lied about the spec of the set and it didn't do what it was supposed to. Returned the set to the store and was refused a refund.
I protested and was dragged to one side by the very same salesman who threatened me with violence if I didn't leave!! Subsequent complaint to head office was ignored so I was on a hiding to nothing.
So..I'm sincerely very sorry for 5999 of the workers but to the guy at the West Quay store can I just say "Ha ha ha!".
ohec
says...
10:27am Thu 1 Nov 12
8089
says...
10:28am Thu 1 Nov 12
sotonbusdriver wrote:...Thank Labour for that. They let the supermarkets take over!
It is about time this Government call for a re-election, as it seems most people, and business have lost faith in their ability to help GB recover,,,
This was a Country, of shopkeepers, soon it will be a Third World nation...
Also, Comet were over priced and the service was appalling and why go there when items are a LOT cheaper on the net?....Though!
Georgem
says...
11:19am Thu 1 Nov 12
Quite what "the coalition" can do about a failing business model, is anyone's guess. I suppose they could pass a law that requires everyone to spend a minimum of £400 each at Comet this week, but I don't fancy their chances.
Georgem
says...
11:28am Thu 1 Nov 12
davehills wrote:This actually happened, everyone! Shop staff routinely assault customers! Honestly!
Obviously very,very concerned for 5999 people who may lose their jobs.
Personally, I have not shopped @ Comet for many years after a bad experience buying a telly.
I bought a TV from their West Quay store (Now closed) purely on the basis of promises made by the salesman.
Got the set home and it turned out he blatantly lied about the spec of the set and it didn't do what it was supposed to. Returned the set to the store and was refused a refund.
I protested and was dragged to one side by the very same salesman who threatened me with violence if I didn't leave!! Subsequent complaint to head office was ignored so I was on a hiding to nothing.
So..I'm sincerely very sorry for 5999 of the workers but to the guy at the West Quay store can I just say "Ha ha ha!".
davehills
says...
12:21pm Thu 1 Nov 12
'Threat of violence' is what took place.
elvisimo
says...
1:09pm Thu 1 Nov 12
davehills wrote:- someone get me some matchsticks for my eyes.
Obviously very,very concerned for 5999 people who may lose their jobs. Personally, I have not shopped @ Comet for many years after a bad experience buying a telly. I bought a TV from their West Quay store (Now closed) purely on the basis of promises made by the salesman. Got the set home and it turned out he blatantly lied about the spec of the set and it didn't do what it was supposed to. Returned the set to the store and was refused a refund. I protested and was dragged to one side by the very same salesman who threatened me with violence if I didn't leave!! Subsequent complaint to head office was ignored so I was on a hiding to nothing. So..I'm sincerely very sorry for 5999 of the workers but to the guy at the West Quay store can I just say "Ha ha ha!".
Brusher Mills
says...
1:15pm Thu 1 Nov 12
mellowdude
says...
1:34pm Thu 1 Nov 12
Lone Ranger.
says...
1:54pm Thu 1 Nov 12
davehills wrote:davehills .......I dont know how long Comet in West Quay has been close but you holding a grudge for this length of time really is unhealthy.
Obviously very,very concerned for 5999 people who may lose their jobs.
Personally, I have not shopped @ Comet for many years after a bad experience buying a telly.
I bought a TV from their West Quay store (Now closed) purely on the basis of promises made by the salesman.
Got the set home and it turned out he blatantly lied about the spec of the set and it didn't do what it was supposed to. Returned the set to the store and was refused a refund.
I protested and was dragged to one side by the very same salesman who threatened me with violence if I didn't leave!! Subsequent complaint to head office was ignored so I was on a hiding to nothing.
So..I'm sincerely very sorry for 5999 of the workers but to the guy at the West Quay store can I just say "Ha ha ha!".
.
Go on ..... find it in your soul to forgive and ....... move on
Georgem
says...
2:03pm Thu 1 Nov 12
davehills wrote:Assault doesn't imply injury at all. That would be 'battery'. What you described, if it happened, is most definitely assault.
I would say 'assault' is too strong a word as that implies injury took place, which it certainly didn't.
'Threat of violence' is what took place.
Of course, if it happened, it certainly isn't as simple as you're making it out to be. But that's another matter.
Georgem
says...
2:14pm Thu 1 Nov 12
mellowdude wrote:Exactly.
We can't moan about the demise of the high street, when its our choice to go for cheap and convenient ways of shopping such as online and out of town.
Linesman
says...
2:15pm Thu 1 Nov 12
8089 wrote:Just a reminder 8089.
sotonbusdriver wrote:...Thank Labour for that. They let the supermarkets take over!
It is about time this Government call for a re-election, as it seems most people, and business have lost faith in their ability to help GB recover,,,
This was a Country, of shopkeepers, soon it will be a Third World nation...
Also, Comet were over priced and the service was appalling and why go there when items are a LOT cheaper on the net?....Though!
Lady Porter, the daughter of the founder of Tesco was the Tory leader of Westminster Council who was found guilty of gerrymandering.
Tesco, Sainsbury, Safeway were all around before Labour came to power.
Timsey
says...
2:53pm Thu 1 Nov 12
I was there the other day, only three customers but seemed to be plenty of staff
None of them seemed be bothered to see if I needed any help.
Blaming it on line sales and purchasing from online - if you get a problem not so easy to get it sorted
Georgem
says...
3:00pm Thu 1 Nov 12
Timsey wrote:"If you get a problem not so easy to get it sorted"
Sad to see another store go and just before Christmas is always a bad time.
I was there the other day, only three customers but seemed to be plenty of staff
None of them seemed be bothered to see if I needed any help.
Blaming it on line sales and purchasing from online - if you get a problem not so easy to get it sorted
Not quite sure what that has to do with the stores closing.
freefinker
says...
3:08pm Thu 1 Nov 12
Linesman wrote:.. we have been through all this before, haven't we?
8089 wrote:Just a reminder 8089.
sotonbusdriver wrote:...Thank Labour for that. They let the supermarkets take over!
It is about time this Government call for a re-election, as it seems most people, and business have lost faith in their ability to help GB recover,,,
This was a Country, of shopkeepers, soon it will be a Third World nation...
Also, Comet were over priced and the service was appalling and why go there when items are a LOT cheaper on the net?....Though!
Lady Porter, the daughter of the founder of Tesco was the Tory leader of Westminster Council who was found guilty of gerrymandering.
Tesco, Sainsbury, Safeway were all around before Labour came to power.
NO, she wasn't found guilty of gerrymandering - "when someone in authority changes the borders of an area in order to increase the number of people within that area who will vote for a particular party or person"
She changed NO ward borders. What she did do was “social cleansing” – arranging for the social mix of existing ward to be redistributed to the electoral advantage of the Tories. That is NOT gerrymandering, as the definition above clearly confirms.
She was an evil old bat though; I think we can both agree on that.
Linesman
says...
3:22pm Thu 1 Nov 12
freefinker wrote:That's OK then. As long as she did not changethe boundaries - the desired effect was the same though.
Linesman wrote:.. we have been through all this before, haven't we?
8089 wrote:Just a reminder 8089.
sotonbusdriver wrote:...Thank Labour for that. They let the supermarkets take over!
It is about time this Government call for a re-election, as it seems most people, and business have lost faith in their ability to help GB recover,,,
This was a Country, of shopkeepers, soon it will be a Third World nation...
Also, Comet were over priced and the service was appalling and why go there when items are a LOT cheaper on the net?....Though!
Lady Porter, the daughter of the founder of Tesco was the Tory leader of Westminster Council who was found guilty of gerrymandering.
Tesco, Sainsbury, Safeway were all around before Labour came to power.
NO, she wasn't found guilty of gerrymandering - "when someone in authority changes the borders of an area in order to increase the number of people within that area who will vote for a particular party or person"
She changed NO ward borders. What she did do was “social cleansing” – arranging for the social mix of existing ward to be redistributed to the electoral advantage of the Tories. That is NOT gerrymandering, as the definition above clearly confirms.
She was an evil old bat though; I think we can both agree on that.
I seem to recall that she was chared with gerrymandering, whether or not that was the literal meaning of the word, and she suddenly found that life in Israel was preferable to life in London.
freefinker
says...
5:01pm Thu 1 Nov 12
Linesman wrote:.. no, NOT charged with gerrymandering but abuse of public funds, i.e. the costs associated with moving the plebs out of marginal wards and moving toffs in - to make them safe seats for the Tories. The District Auditor initiated the action – not the Electoral Commission.
freefinker wrote:That's OK then. As long as she did not changethe boundaries - the desired effect was the same though.
Linesman wrote:.. we have been through all this before, haven't we?
8089 wrote:Just a reminder 8089.
sotonbusdriver wrote:...Thank Labour for that. They let the supermarkets take over!
It is about time this Government call for a re-election, as it seems most people, and business have lost faith in their ability to help GB recover,,,
This was a Country, of shopkeepers, soon it will be a Third World nation...
Also, Comet were over priced and the service was appalling and why go there when items are a LOT cheaper on the net?....Though!
Lady Porter, the daughter of the founder of Tesco was the Tory leader of Westminster Council who was found guilty of gerrymandering.
Tesco, Sainsbury, Safeway were all around before Labour came to power.
NO, she wasn't found guilty of gerrymandering - "when someone in authority changes the borders of an area in order to increase the number of people within that area who will vote for a particular party or person"
She changed NO ward borders. What she did do was “social cleansing” – arranging for the social mix of existing ward to be redistributed to the electoral advantage of the Tories. That is NOT gerrymandering, as the definition above clearly confirms.
She was an evil old bat though; I think we can both agree on that.
I seem to recall that she was chared with gerrymandering, whether or not that was the literal meaning of the word, and she suddenly found that life in Israel was preferable to life in London.
Sorry to be pedantic.
8089
says...
5:35pm Thu 1 Nov 12
Linesman wrote:........And?.......M
8089 wrote:Just a reminder 8089.
sotonbusdriver wrote:...Thank Labour for that. They let the supermarkets take over!
It is about time this Government call for a re-election, as it seems most people, and business have lost faith in their ability to help GB recover,,,
This was a Country, of shopkeepers, soon it will be a Third World nation...
Also, Comet were over priced and the service was appalling and why go there when items are a LOT cheaper on the net?....Though!
Lady Porter, the daughter of the founder of Tesco was the Tory leader of Westminster Council who was found guilty of gerrymandering.
Tesco, Sainsbury, Safeway were all around before Labour came to power.
akes no difference.....Soton
busdriver was trying to blame the present government...I merely answered his strange rant about the UK being a 'country of shopkeepers' and how it's all this governments fault.....Can't blame this lot for allowing supermarkets to destroy the small retailers. Remember Lord Sainsbury and his huge donations to the Labour party and Mr Tesco Terry Leahy being Gordon Brown's business advisor?
Labour clearly played their part!
8089
says...
5:47pm Thu 1 Nov 12
Tax and spend!
...And for allowing too many migrants here, thus getting more Labour votes!
freefinker
says...
5:59pm Thu 1 Nov 12
8089 wrote:.. but not taken to court, found guilty and fled the country.
Well freefinker, we can certainly blame Labour for 'abuse of public funds' too......
Tax and spend!
...And for allowing too many migrants here, thus getting more Labour votes!
Well, maybe John Stonehouse - but not in that order.
Linesman
says...
9:29pm Thu 1 Nov 12
8089 wrote:But the supermarkets were already a fact of life before Blair and Brown arrived on the scene.
Linesman wrote:........And?.......M
8089 wrote:Just a reminder 8089.
sotonbusdriver wrote:...Thank Labour for that. They let the supermarkets take over!
It is about time this Government call for a re-election, as it seems most people, and business have lost faith in their ability to help GB recover,,,
This was a Country, of shopkeepers, soon it will be a Third World nation...
Also, Comet were over priced and the service was appalling and why go there when items are a LOT cheaper on the net?....Though!
Lady Porter, the daughter of the founder of Tesco was the Tory leader of Westminster Council who was found guilty of gerrymandering.
Tesco, Sainsbury, Safeway were all around before Labour came to power.
akes no difference.....Soton
busdriver was trying to blame the present government...I merely answered his strange rant about the UK being a 'country of shopkeepers' and how it's all this governments fault.....Can't blame this lot for allowing supermarkets to destroy the small retailers. Remember Lord Sainsbury and his huge donations to the Labour party and Mr Tesco Terry Leahy being Gordon Brown's business advisor?
Labour clearly played their part!
Are you suggesting that they should have made a law banning supermarkets, and only permitting local shops to be opened?
Get in touch with reality.
bazzeroz
says...
9:30pm Thu 1 Nov 12
MGRA
says...
11:03pm Thu 1 Nov 12
Frank28 says...
9:53am Thu 1 Nov 12