Store set to go into administration (From Watford Observer)

Comet set to go into administration

11:11am Friday 2nd November 2012 in News

Rickmansworth based electronics giant Comet looks set to be placed into administration next week.

The retailer, which has 240 stores nationwide and employs 6,500 people, is expected to continue trading over the weekend but the company’s website has been taken offline.

As well as the head office in Three Rivers Court, Rickmansworth, Comet has a shop in Century Park, Watford.

The retailer was sold to investment firm OpCapita less than a year ago for £2.

A statement from the company said: "Comet Group Limited can confirm that it has today taken steps to seek the protection of the court with a view to the company entering into administration during week commencing November 5, 2012.

"In the meantime, the board is urgently working with its advisers to seek a solution to secure a viable future for the company."