Comet Under Trouble Financially

Williams Commerce report Comet's financial trouble which has been reported all around the world.

Williams Commerce, a Leicester based SEO consultancy and ecommerce company, have learnt of Comet's current financial situation, and have decided to investigate on what is happening with it all.

John Roberts, boss of Appliances Online, said it was "very unlikely" administrators Deloitte would be able to sell Comet as a going concern. He said he has made an offer of "millions" of pounds for the chain's brand and website. However, Deloitte claims to be in talks with a small number of potential buyers.

Comet started off with 236 stores across the United Kingdom, each successfully trading since their opening. However, Deloitte state if there is no buyer for Comet within the next month, another 125 stores will be closed. 70 stores will be left from the original number, and it is suggested more than 3,000 jobs could be affected - potentially just lost - by the current decisions to close more stores of Comet.

"Should any acceptable offers be received for stores, we will delay the closure process," said joint administrator Chris Farrington. "Unfortunately, in the absence of a firm offer for the whole of the business, it has become necessary to begin making plans in case a sale is not concluded." It seems whilst Comet are clearly receiving offers, none are yet to be set in stone. Which means there are plenty more time for competitors to step in.

With their online business still running alongside their still open stores, people would suspect good things for Comet despite their downfalls. However, it can be said many different claims have been made in which Comet are likely to have stopped trading before Christmas 2012. With a remained of 70 stores set to be around for December, it is no surprise there is so much speculation of Comet ceasing to exist before Christmas time of 2012.