Closing down sale in Comet New Malden

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By adam_leone | Tuesday, November 20, 2012, 00:04

Comet in New Malden has an uncertain future as it launches it's closing down sale.

It follows the announcement that the ailing high street electrical chain was to go into administration.  

The collapse of Comet is the biggest retail failing since Woolworths shut down in 2008.  

The group was hit by weak high street trading conditions and competition from online shopping.  

700 jobs were lost in a fresh round of redundancies by the company's administrator.  

Comet's administration comes just months after it was taken over by investment firm OpCapita, which bought the chain for a nominal £2 in February.

Angry staff at the chain have called for ministers to investigate the retailer's collapse and the way its former private equity owners ran the company.

      

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