Comet collapse costs £15 million

In Industry News On

The BBC reports that administrators have confirmed that the total cost of winding up the collapse of Comet will be approximately £15 million.

Comet collapsed last year with the loss of nearly 7,000 jobs and Comet workers had their redundancy money of £23.2m, paid for by the government’s Redundancy Payments Service.

The administrator, Deloitte, said they were charging “the accepted rate for a complex administration”.

A Deloitte spokesman told the BBC that: “The overall costs of administration are £15m, which includes third-party consultants. Deloitte’s specific fees are for £8m.

“They reflect the accepted rate for a complex administration in a highly regulated environment.”

After Comet entered into administration it has also left many customers that bought own-brand products such as Proline with no warranty and no spare part options for these products. Even some known brands that Comet bought out the warranty for may carry no guarantee in wake of the retailer’s collapse.

You may also read!

Hotpoint launches laundry promotion

Consumers can enjoy a six-month, free supply of Ariel Pods, as well as a Lenor scent boosting bundle, with


Bosch presents new filter coffee machines

The new Bosch TKA8013 Styline filter coffee maker (in black) and TKA8011 Styline filter coffee maker (in white) feature


Haier UK partners with Boxxfresh

Haier has announced a new promotion in partnership with Boxxfresh – Keep It Fresh, Reduce Food Waste with Haier


Mobile Sliding Menu

©2021 Innovative Electrical Retailing. Datateam Business Media Limited. All rights reserved.
Registered in England No: 1771113. VAT No: 834 8567 90.
Registered Office: 15a London Road, Maidstone, Kent ME16 8LY