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Thursday, November 1, 2012

Comet expected to go into administration next week

UK electrical retailer Comet is expected to go into administration next week, although the business will continue operating while its administrator considers the available options. Comet was bought a year ago by investment firm OpCapita.

It’s reported that Comet has struggled with stock levels recently due to problems obtaining credit insurance.

Around 7,000 people currently work for Comet, which has 240 UK stores.

[More details: BBC News; ManagementToday.co.uk]

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Author: The Fonecast
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