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Comet Staff face losing Job before Christmas

There were not many organisations across the UK that didn’t feel the full effects of the double-dip recession, but Comet, one of the biggest electrical retailers in Britain, are in a class of companies that failed to emerge from the downturn intact.

While the company has already lost 41 shops and more than 1,000 staff, Deloitte has said that the lack of a firm offer from Comet to maintain the ownership of their remaining 125 shops, could lead to their closure over the next ‘several weeks’.

This would be disastrous for members of staff who are still employed by Comet, of which there are thought to be more than 5000, as it would mean they would likely lose their jobs before Christmas. The only real hope for the retail giant now is backing from an investor, or “white knight”, that would see the stores saved from closure, but this is looking increasingly unlikely.

However, Chris Farrington, joint administrator remains optimistic. He said: “We remain in discussions with a small number of interested parties and hope that a positive outcome can still be achieved”

He added: “Should any acceptable offers be received for stores we will delay the closure process. If a sale was not possible we would envisage stores to be closing before Christmas”.

Comet join a list of high profile companies including, Jane Norman, Woolworths and JJB Sports to call in the administrators since the start of the recession in 2007.

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