Comet "Fire Sale" will follow administration news, gift cards accepted

Financially-stricken high street electronics retailer Comet will hold a stock-clearing “fire sale” following the news that the company has been put into administration.

Items will be sold at “everything must go” prices, with £120 million worth of stock to go. Though a date for the sale has yet to be announced, administrators Deloitte announced that those with Comet gift cards will be able to use them during the sale, despite the gift cards not being accepted in recent days since the administration team moved in.

Neville Kahn of Deloitte announced: “Following our appointment as Administrators to Comet at 4:30pm on Friday afternoon, it was necessary to temporarily suspend the acceptance of gift cards as a means for payment in order to allow the Joint Administrators time to assess the financial position of the company and collate information about the quantity, value and nature of gift cards in circulation.

“Having now had the opportunity to do so, we are very pleased to inform Comet customers that the Company will be able to accept gift cards which have been purchased and paid for in full by members of the public.

“At this stage, it is necessary to maintain the temporary suspension on gift cards which have been issued to people on behalf of a corporate customer, for example by insurers, pending clarification from the relevant providers as to whether Comet has received payment in full for these cards.”

Though we may all be able to bag a bargain through Comet’s inevitable sale, spare a thought for the 6,000 employees of the brand. Unless a buyer can be found, many will find themselves unemployed in the run up to Christmas.

Via: Mirror