Rain

Rain

max temp: 14°C

min temp: 11°C

ESTD 1874 Search

Bury St Edmunds: Closing down sale at Comet store

11:03 19 November 2012

Closing down sales have been announced at some Comet stores

Closing down sales have been announced at some Comet stores

A CLOSING down sale is beginning at Bury St Edmunds Comet store as the joint administrators of the collapsed electrical retail chain continue to seek a buyer.

shares

Administrators from Deloitte confirmed plans on Saturday to close 41 Comet stores, including the Bury St Edmunds store, where 11 staff are employed, by the end of November, unless a buyer can be found for the business in the meantime.

A closing down sale with increased discounts began in 27 stores on Saturday and will begin in a further 14 stores early this week, they said.

More generous discounts will also be applied to products across all of the other 195 Comet stores, which continue to trade as usual. Administrators said they will look to redeploy staff from any stores which do face closure to other stores nearby, but there will inevitably be redundancies. Comet also has stores at Ipswich, where 24 staff are employed, and Colchester, where there are 20 employees.

A dedicated employee helpline has been set up and the company is running an Employee Assistance Programme to help those staff made redundant find other jobs.

“The administrators continue to hold discussions with parties who have expressed interest in parts of the business. Regrettably, however, it is necessary to begin a store closure programme and an employee consultation process is under way,” Deloitte said.

Joint administrator Chris Farrington said: “We are very grateful to the company’s employees for their professionalism, loyalty and support at this difficult time and all employees will of course continue to be paid for all the work they do while the company is in administration.”

Neville Kahn, Nick Edwards and Chris Farrington of Deloitte were appointed joint administrators to Comet on Friday, November 2.

The 240-strong chain confirmed plans for it to be placed into administration earlier this month, marking one of the UK’s biggest retail failures in recent years and putting around 6,500 retail jobs under threat.

shares

0 comments

The water unit from the Prince's Street fire station with Ipswich with officials from the Port of Ipswich and students from Suffolk New College at the water safety demostration hosted by the port.

The Port of Ipswich teamed up with Suffolk Fire and Rescue Service to stage a rescue simulation off Orwell Quay.

From left, Chris Chamberlain from HTK, Vicki Cole from Crafted and Helen Dodman from Ipswich Central, the three organisations behind the Destination Digital conference.

The company behind the delivery of the Ipswich town centre Business Improvement District project has teamed up with two local digital specialist to stage a conference on online marketing for the tourism and hospitality sectors.

French Connection has warned that it faces a substantial loss when it posts its annual results.

Fashion chain French Connection today warned that it now expects to make a big annual loss after seeing its recovery hopes dashed by a difficult spring trading period.

Andrew Harrison, managing director of Stansted Airport.

Manchester Airports Group, parent company of Stansted Airport, scored a four-star rating in Business in the Community’s 2015 CR Index.

Dominic Casserley, group chief executive of Willis.

Global risk advice and insurance broking firm Willis has launched a 550million euro (£393m) offer to take full control of the French broker Gras Savoye.

Sainsbury's is to cut 800 jobs as part of a restructuring of its store operations.

Sainsbury’s is to cut 800 jobs as it becomes the latest supermarket to restructure its operations in the face of tough trading conditions.

The CWind Sword offshore support vessel.

Colchester-based offshore service vessel manufacturer CTruk has won an order to supply two more of its MPC22 boats to sister company CWind.

Kay Allen, founder of Trading for Good, and Paul Winter, chief executive of Ipswich Building Society.

Ipswich Building Society has been presented with a Responsible Business Award at a Trading for Good East of England event held in its home town.

Savills has agreed a deal to acquire Smiths Gore.

Property services group Savills has agreed the acquisition of residential and rural agency chain Smiths Gore for an undisclosed sum.

Signage outside the Birds Eye factory in Lowestoft.

The company behind the Birds Eye frozen foods factory in Lowestoft has been sold by private equity firm Permira to a acquisition specialist based in the United States.

Most read

Most commented

Topic pages