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5,000 Comet Jobs Lost Before Christmas?

comet1Fresh reports out today suggest that up to 5,000 Comet staff could lose their job before Christmas if a buyer is not found for the retail chain.

It has been reported that store bosses have consulted staff and have warned that high street stores could start closing as soon as 18th December.

The Sun newspaper revealed the report which also suggests that Comet’s distribution centre in Essex will close by the end of the week.

The electrical retailer called in the administrators earlier this month after falling profits and increasing competition from online retailers has hindered its sales growth.

Administrators Deloitte have been working to find a buyer for the company. Last year the retail chain was sold to OpCapita for £2 after it got into debts of £35m – but it has failed to revive sales this year.

The remaining 195 Comet stores across the country are thought to be closing during the next few weeks. Around 1,500 staff have already been made redundant and, judging by the new reports, this looks set to increase during the festive period.

Rumours have been circulating about possible buyers including DRL, who own Appliances Online, putting a bid in to buy the online Comet brand. It’s also suggested that Dixons and TK Maxx are bidding to buy some of the remaining high street stores.