Comet launches liquidation sales

Failed retailer Comet has launched liquidation sales after going into administration last Friday. The bereft electronics vendor's current administrator Deloitte is expected to begin closing down outlets from next week.

The liquidation sale was announced via the company's website and is limited to physical stores. The site also warned that purchases will be non-refundable and that the deliveries of goods not paid for but were ordered prior to administration will be halted. Gift cards, however, are still being accepted.

The sale is seeing discounts between 10 per cent and 20 per cent which is not as low as expected. A possible explanation for this may be evident in the ongoing efforts of Deloitte to find a new buyer for Comet, a hard sale of assets may diminish the worth of the electronics retailer in the eyes of a prospective buyer.

Rivals Dixons may also be preparing to receive an influx of former Comet staffers as it has yet to commence its seasonal recruitment drive. The PC World owner takes on an additional 2,000 employees to cope with the busy holiday season but might prefer to take advantage of the experienced labour that is soon to be made available.