Troubled electrical retailer Comet will close its doors tomorrow for the last time. Founded in Hull, Yorkshire, many years ago, the company grew into a successful nationwide retailer. In November 2011 it ran into financial difficulties and has been on a downward spiral ever since.
When it was sold to its current owners, opcapita, it was for the paltry sum of £1. I ask you. Some stores closed and a supposedly leaner retailer was back in business. Now though comes the rub.
Rescue plans have failed and all Comet stores will close forever tomorrow. It now seems likely that we the British taxpayers will be left with a tab of £49.4mil when Comet closes.
It will be to pay redundancy payments, settle outstanding tax bills and more. There are only 49 stores left open, but tomorrow there will be none. Around 6,000 workers will be out of a job. What a Christmas bonus for them, we don't think.
The joke is that opcapita look set to lose little. You can read more here at the financial times. According to the report opcapita is a US run company albeit based in London. Its leading lights are Americans, one being Henry Jackson, a former investment banker. Say no more.
It seems that the management will not be doing anything wrong if they leave the British taxpayer with hefty bills. Another fat cat loophole we assume. Yet the British taxpayer is going to foot the bill whilst they walk away with some money.
Baffling. Good luck to those now out of work. They will be in for a bumpy ride.
Some of the staff who will lose their jobs are now askng for an investigation into what went wrong and why it was so easy for the stores to be closed.
Based in Yorkshire, in the middle of the UK, almost, this blogger offers her own unique perspective on life in GB
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