180 wait for axe to fall on Comet (From The Argus)

Over the years some good deals could be had.
Sadly like Woolworths Comet as a store never really had the 'wow' factor so beloved of reality TV shows.
The list of those losing jobs is growing and yet the Coalition Government still expects private enterprise to take up the slack - some hope!

Yes, a sad combination of spiraling rents by greedy landlords and the Tory's increase in VAT, along with the savings customers could have online and the general austerity of the current period meant that this business was always going to struggle.

I hope all the workers there find similar-paid employment elsewhere as soon as possible. Good luck!

Killed by high pressure selling of over-priced extended warranties. That's what stopped me going in places like Comets.

Also shops being run by hedge funds and/or banks is always a ticking time bomb.
I never shop in such places as the service is usually pretty bad as its not the core business of an investment bank to deliver good service. They just flog stuff using low paid staff and then wriggle out of guarantees.

Received from Comet today, a reminder to renew my TV insurance with them......some hopes!

I have never been a big fan of Comet as their after sales service left a lot to be desired, but it was still a major player in the high street and can only leave us wondering which big name will be next.

when my tele packed up 2hrs before the revelation of who shot JR it was comet at newhaven that saved the day, I have happily used them since, these days its worthing branch with its helpfull staff, no complaints from me.
if its failed its not because of what it sells or the prices and particualy not because of its shop staff, no its management plain and simple, they thought they had a bargain, but they were not up to the task, strangely I doubt if they have lost a single penny, no doubt they will even turn a profit over this. but thats as they say, business.

Fercri Sakes wrote:
Yes, a sad combination of spiraling rents by greedy landlords and the Tory's increase in VAT, along with the savings customers could have online and the general austerity of the current period meant that this business was always going to struggle.

I hope all the workers there find similar-paid employment elsewhere as soon as possible. Good luck!

What a load of rubbish your first two reasons are !!!!! Every retailer has been hit by the VAT increase ( yet Comet couldn't compete with the likes of Currys ) and rents for commercial properties of the type Comet rented have remained fairly stable.

Comet was the architect of its own demise - poor quality goods normally available much cheaper on the internet, awful sales advice, more interest in selling warranties and after sales service is non-existent.

I feel sorry for the staff about to lose their jobs but lets not kid ourselves - the high street will be much better off without Comet.

The Argus is showing its usual quality as normal - OpCapita are the current owners not the ex-owners !

comet certainly wont be the last to go,were all in this for at least another 5 years!! and then,what is a correct economy,as the last 10 years or so has been a false one on borrowed money!!! worrying times ahead for all

Fight_Back wrote:

Fercri Sakes wrote:
Yes, a sad combination of spiraling rents by greedy landlords and the Tory's increase in VAT, along with the savings customers could have online and the general austerity of the current period meant that this business was always going to struggle.

I hope all the workers there find similar-paid employment elsewhere as soon as possible. Good luck!

What a load of rubbish your first two reasons are !!!!! Every retailer has been hit by the VAT increase ( yet Comet couldn't compete with the likes of Currys ) and rents for commercial properties of the type Comet rented have remained fairly stable.

Comet was the architect of its own demise - poor quality goods normally available much cheaper on the internet, awful sales advice, more interest in selling warranties and after sales service is non-existent.

I feel sorry for the staff about to lose their jobs but lets not kid ourselves - the high street will be much better off without Comet.

Precisely.

Appalling customer service, messed up orders and deliveries, poor web presence compared to other online retailers and extortionate non-domestic rates are other reasons that contributed to Comet's demise. Two Currys/PC Worlds half a mile from each other that are doing well just prove that they were indeed "architects of their own demise" largely

Fight_Back wrote:

Fercri Sakes wrote:
Yes, a sad combination of spiraling rents by greedy landlords and the Tory's increase in VAT, along with the savings customers could have online and the general austerity of the current period meant that this business was always going to struggle.

I hope all the workers there find similar-paid employment elsewhere as soon as possible. Good luck!

What a load of rubbish your first two reasons are !!!!! Every retailer has been hit by the VAT increase ( yet Comet couldn't compete with the likes of Currys ) and rents for commercial properties of the type Comet rented have remained fairly stable.

Comet was the architect of its own demise - poor quality goods normally available much cheaper on the internet, awful sales advice, more interest in selling warranties and after sales service is non-existent.

I feel sorry for the staff about to lose their jobs but lets not kid ourselves - the high street will be much better off without Comet.

Indeed, there was a top retail analyst on the BBC yesterday who said it wasn't difficult to predict as Comet had for the last 10 years not embraced internet shopping as part of it's retail strategy and this was largely to blame for it's demise.

Some suppliers had only been supplying Comet recently with "legal title" retained on the goods so they can get them back.

However you musn't forget it's the insurers who changed their insurance policy for goods supplied to Comet that caused this problem in the first place, they have only made a loss of £35m on sales of I think of £1.4 / £1.6 BILLION in the last year!