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Comet going into administration?

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Comments

  • Actually Lauraeva, Comet is already in administration. It was brought forwards, and the reason they opened later (1pm) was because the staff were being informed of what was happening and then Deloitte shut the stores about 3pm to consider what the best options were going forwards.
    Brilliant !

    So £100 down the drain ? Could be worse, guess it is for many folk ...

    Reliable news sources were suggesting admin on Mon / Tue, fact its been brought ahead (if true) is that the store has the least regard for its retail creditors, and that the banks take priority as usual.

    Look foreward to any "fire sales" as guess they would need police protection from disgruntled out of pocket customers !
  • Can anyone remind me where customers with ongoing orders, gift card holders, stand in the list of creditors of an insolvent company ...

    Salutory lesson to us all, Ebay / Amazon probably offers more protection ?
  • Slowhand
    Slowhand Posts: 1,073 Forumite
    lauraeva wrote: »
    Brilliant !

    So £100 down the drain ? Could be worse, guess it is for many folk ...

    Reliable news sources were suggesting admin on Mon / Tue, fact its been brought ahead (if true) is that the store has the least regard for its retail creditors, and that the banks take priority as usual.

    Look foreward to any "fire sales" as guess they would need police protection from disgruntled out of pocket customers !

    Just remember CoolHotCold works for...a Comet rival? He also struggles with the basics of DSR..as well as?
  • CoolHotCold
    CoolHotCold Posts: 2,158 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Lauraeva, its not been confirmed yet if Gift Cards won't be accepted yet. Best bet is to go down pronto on Saturday and buy something that holds value or something you want (could be anything from iTunes vouchers for gifts etc etc)



    Also DaCouch, if the extracare agreement isn't a insurance policy covered by the FSA then it will be managed by a independent trust fund who have a duty of care to ensure there is enough money in the fund based on historical and trends, the amount of data these companies build up is amazing, they can tell how many will fail within X years and the average cost of repair/replacement. These trust funds have a legal requirement to make sure they are simply not holding a token amount.
  • CoolHotCold
    CoolHotCold Posts: 2,158 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Slowhand wrote: »
    Just remember CoolHotCold works for...a Comet rival? He also struggles with the basics of DSR..as well as?


    Please show me where I am wrong on the DSR.
  • carol01
    carol01 Posts: 568 Forumite
    lauraeva wrote: »
    Brilliant !

    So £100 down the drain ? Could be worse, guess it is for many folk ...

    Reliable news sources were suggesting admin on Mon / Tue, fact its been brought ahead (if true) is that the store has the least regard for its retail creditors, and that the banks take priority as usual.

    Look foreward to any "fire sales" as guess they would need police protection from disgruntled out of pocket customers !
    there will be no fire sales trading tommorrow from 9am but as far as im aware gift cards will not be able to be used as i have a friend who still works for them
    always smile no matter how broken you are.
  • DSR ... please let me into the acronym as I'm lost !
  • carol01 wrote: »
    there will be no fire sales trading tommorrow from 9am but as far as im aware gift cards will not be able to be used as i have a friend who still works for them
    This is crazy and just shows what a shower this company is from top to bottom.

    Without formal declaration of insolvency if the store continues to trade it has to honour its legal obligations, refunds, cancellation of orders, pre-paid cards ...

    Which is why I can't see any of their stores opening on Satrurday despite "trading as usual" statements, which sadly means Comet is toast ... as is a lot of our money.
  • chewynut
    chewynut Posts: 374 Forumite
    I feel so bad for the staff of Comet. It's not bad enough that they're losing their jobs in a climate where it's not easy to walk into another? Now they're being insulted for circumstances that are far beyond their control?

    We tried 3 Comets and they were all closed. My dad has a credit note he wants me to use to purchase an iPod Shuffle for him. Am I on here ranting about other peoples' misfortune? No I'm not, because I've got a soul :mad:
    'til the end of the line
  • carol01
    carol01 Posts: 568 Forumite
    lauraeva wrote: »
    This is crazy and just shows what a shower this company is from top to bottom.

    Without formal declaration of insolvency if the store continues to trade it has to honour its legal obligations, refunds, cancellation of orders, pre-paid cards ...

    Which is why I can't see any of their stores opening on Satrurday despite "trading as usual" statements, which sadly means Comet is toast ... as is a lot of our money.
    it says be nice to newbies i suggest if you need help with a question then ask, as for slagging off employees because you can not use a gift card is just nasty don't take it out on the comet staff, take it out on henry jackson (opt capita) he is the one responsible for comet in administration not the staff most employees only found out on the news yesterday you may have lost what a £100.00 they could lose their homes if it goes into liquidation.
    always smile no matter how broken you are.
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