Comet starts liquidation saleTroubled retailer reduces stock

08 November 2012

Comet sale

Comet has started its final sale as administrators take steps close down the business.

According to administrators Deloitte, all stock will be reduced in its 'Massive stock liquidation' although it appears that the sale will be limited to stores and not be available online. Administrators were brought in last week to wind down the struggling electronics retailer after its credit insurers refused to support it, thus requiring it to pay upfront for all stock it wished to buy. 

The majority of products are reduced by around 10%, but this may increase as the sale continues.

Will I be able to use Comet gift vouchers?

Comet has lifted the suspension on the use of Comet gift vouchers so if you do have gift vouchers we would suggest you use them as soon as possible. The only exception are vouchers provided by insurers because Administrators have to confirm they have been paid for.

What are my rights if I buy in the sale?

As the retailer will not be in business for long it won't be offering refunds and you won't have any protection under the sales of goods act if something isn't of satisfactory quality or is not fit for purpose. We would recommend that if you do buy something in the sale that you buy it with a credit card, as this will give you some protection if something goes wrong.

For more information read our advice guide on your rights when buying by credit card.

Deloitte is searching for a buyer for the 236 Comet stores, but stores could begin to close as early as next week.

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