UK Taxpayer Faces £50m Bill For Comet Collapse

by liamssoft | December 17, 2012 at 04:04 pm

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A funding black hole for staff redundancies and tax demands means the Government must cover losses for the troubled Comet Group retail chain.

Comet was an electrical retail chain trading in the United Kingdom, latterly owned by OpCapita. The company sold consumer electronics and white goods along with related products and services, and pioneered the concept of the out-of-town discount warehouse in the UK

The retailer, which had an estimated UK market share of 6 percent, was acquired by private investment firm OpCapita for a nominal 2 pounds in February from Darty, then known as Kesa Electricals.

sky.com