Comet will close Gwent stores (From Free Press Series)

Comet will close Gwent stores

10:50am Friday 9th November 2012 in News

SOME 36 jobs in Gwent are to be lost following electrical goods retailer Comet going into administration.

Comet stores in Cwmbran and Newport will both close, with 14 full- and part-time jobs being lost at the branch at the Lockgate Retail Park, Cwmbran and 22 full- and part-time jobs from the store on Docks Way, in Newport.

Comet has 236 stores across the UK, and employs 6,611 people, with a full-time equivalent workforce of 4,682 employees. Retail insiders have suggested some stores could begin closing as early as next week.

Like many store chains, Comet has been hit hard by the uncertain economic environment, slow consumer spending and a lack of consumer confidence.

In response, PC World/Currys has delayed its normal Christmas recruitment drive, where it hires an additional 3,000 seasonal shop and warehouse staff, to give Comet staff the chance to apply for the temporary posts.

Deloitte, the business advisory firm, has been appointed administrator to Comet.

Neville Kahn, of Deloitte, said: “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. We appreciate the cooperation and support from the management, staff, customers, landlords and suppliers at what is clearly a very difficult time.”