200 Hull jobs at risk as Comet to go into administration next week
Comet will be placed in administration next week, the company has confirmed.
The 240-store electrical retailer, which was founded in Hull in 1933, informed staff of the news this morning.
Around 6,500 jobs are now under threat, including almost 200 in Hull.
Comet has a business centre in George Street and stores at St Andrew's Quay and on Kingswood.
A full head colour or 1/2 head highlights, luxury Redken treatment, cut & blowdry for JUST £40 (SAVE £25) or upgrade to a full head of highlights for JUST £50 (SAVE £35). Add a spraytan for JUST £10.
Terms: New customers only (not visited salon since 25/02/2013). Available everyday Monday - Saturday. Savings based on directors rates.
Contact: 01482 423178
Valid until: Wednesday, July 31 2013
Restructuring specialist Deloitte has been lined up to handle the administration.
Comet, founded by George Hollingbery, grew from a single store in Hull to one of the country's largest chains, but in recent years it has faced tough competition from online retailers.
Last November, Kesa Electricals sold the struggling business to retail turnaround firm OpCapita for a token £2.
As part of the deal, Kesa pumped £50m into the chain and took on the firm’s pension scheme.
But in May this year, hundreds of Hull workers were made redundant when Comet closed a call centre in George Street.