Giltbrook staff face the chop

NEAA 06-11-12 BE 16 Comet store, Giltbrook retail store.
NEAA 06-11-12 BE 16 Comet store, Giltbrook retail store.

Staff at Comet on the Giltbrook Retail Park fear they could all be out of work after the business went into administration last week.

All 25 workers at the shop could be out of a job if adminstrators do not find another buyer for the firm.

One staff member said: “We’ll all be really worried about getting another job if the worse comes to the worse, but I think for now we’re trying not to panic, and just waiting until we hear the news.”

Adminsitrator Neville Kahn said: “Comet has been battling the changing landscape of the electrical retail sector for many years. It has become increasingly difficult for it to compete with online retailers which don’t face the same overheads such as store rents and business rates.

“Our immediate priorities are to stabilise the business, fully assess its financial position, and begin an urgent process to seek a suitable buyer which would also preserve jobs.

“In the meantime, all stores will continue to trade and all employees will continue to be paid.”

It is thought Comet has also been hit by the property slump which has seen fewer first time home buyers, who have historically been an important market for the company.

Against a backdrop of weak sales, and speculation that Comet was being approached by prospective buyers, suppliers have been reluctant to provide credit terms.

Customers have been told warrantees with items already bought will remain valid, but vouchers may not be able to be spent.