Jobs in balance as Comet prepares to fall into administration (From Enfield Independent)

Enfield jobs in balance as Comet prepares to fall into administration

12:49pm Friday 2nd November 2012 in News By Hermione Wright

Jobs are hanging in the balance as retail chain Comet prepares to fall into administration.

Staff in the Comet store in Crown Road near Enfield Lock will wait to hear further news about the future of the electrical company.

According to Comet Group Limited, the company plans to enter administration from Monday.

A statement said: “Comet Group Limited can confirm that it has today taken steps to seek the protection of the Court with a view to the Company entering into Administration during week commencing November 5 2012. 

"In the meantime the board is urgently working with its advisers to seek a solution to secure a viable future for the company.”

The company website is currently “unavailable,” with a message advising web users to “try again later.”

The troubled chain, which employs approximately 8,000 people in the UK, was sold to investors OpCapita LLP for £2 in November last year.