Partly Cloudy

Partly Cloudy

max temp: 21°C

min temp: 13°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

Post Office services to return to Yoxford

The Post Office in a Suffolk town is moving to new premises, and will offer longer opening hours.

Dame Fiona Kendrick:, chief executive of Nestlé  UK & Ireland

Food giant Nestlé has announced plans to close its defined benefit pension scheme, sparking the threat of industrial action.

The Treasury has sold another 1% stake in Lloyds Banking Group.

The taxpayers’ stake in Lloyds Banking Group has fallen to below 16% after the Government sold off another tranche of shares.

The installation of solar panels on the roof of Precision Marketing Group's premises in Lamdin Road, Bury St Edmunds

A Suffolk-based firm will be among the organisations taking part in a nation-wide celebration of solar energy tomorrow.

Candy Gaga'’s Wanda Hewell, right, and daughter, Cherish.

Tower Ramparts in Ipswich now has its very own castle – thanks to the success of a local sweet shop business.

Stansted Airport

A report into the future of Britain’s airports does not rule out a second runway at Stansted – and raises fears of extra night flights to the Essex airport.

Growth in manufacturing eased last month  to its slowest level in two years.

Britain’s manufacturing sector grew at its slowest pace in more than two years last month, impacted by subdued demand from Europe.

Speedy Hire
 has warned that its results for this year will come in

Tool rental business Speedy Hire saw nearly a third of its stock market value wiped off after it announced the shock departure of its chief executive and warned over a major blow to full year profits.

Greene King chief executive Rooney Anand.

Pubs and brewing group Greene King today posted another year of record revenues, with sales within its key Retail division topping £1billion for the first time.

Suffolk Coastal considers convenience store bid

Planning chiefs have responded to concerns about noise and antisocial behaviour arising from proposals for a new convenience store in Kesgrave by insisting on closing times being brought forward an hour and the installation of a barrier to restrict overnight parking.

Most read

Most commented

Topic pages