Comet set to rise again as a new store chain
A chain of electrical stores trading under the Comet name is to be launched in an attempt to fill the gap in the market left by the now-defunct retailer.
Despite not having bought the Comet brand from administrator Deloitte, Clive Coombes – who has taken legal advice about using the name – intends to open the first Meridian Comet store in the next two months in the South-west of England. The property tycoon has already formed ties with brands including Apple, Canon and Sony to replicate the former chain’s range.
The entrepreneur tried unsuccessfully to buy Comet after it collapsed into administration last November, following dire trading and a cashflow crisis. He believes he can scoop up the customers left behind by Comet with much smaller high street stores of 3,000 square feet. But he faces an uphill challenge in the low-margin electrical goods sector, which has been battered by internet trading. He plans to build Meridian Comet through private investment before floating it on the Alternative Investment Market, with target of opening 80 shops in two years.
He told Retail Week: “Comet left a big gap in the market. Dixons is the only significant player in that market and we have identified a niche we’re confident of making the most of.”
- 1 Tourist films plane's descent just metres above packed Caribbean beach
- 2 Kate Moss: Previously unpublished nude photo revealed by Mert and Marcus
- 3 Indian woman creates 'Marriage CV' after parents put her on dating site: 'Definitely not marriage material. Won’t grow long hair, ever'
- 4 World Book Day: Boy 'excluded' from school after dressing up as Fifty Shades' Christian Grey
- 5 Bad Jews poster 'censored' on London Tube
Tourist films plane's descent just metres above packed Caribbean beach
Indian woman creates 'Marriage CV' after parents put her on dating site: 'Definitely not marriage material. Won’t grow long hair, ever'
Becky Watts: Four appear in court charged with hiding body parts after teenager's death
Isis 'bulldozes' Nimrud: UNESCO condemns destruction of ancient Assyrian site as a 'war crime'
Professor Brian Cox brands astrology-believing Tory MP David Tredinnick an 'outlier on the spectrum of reason'
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
Durham Free School: 'Creationism taught at' free school facing closure
End of the licence fee: BBC to back radical overhaul of how it is funded
Elif Shafak: Turkish author warns against rise of British nationalism
Most people think legal tax avoidance is just as wrong as illegal tax evasion, poll suggests
Nigel Farage promises Ukip will not 'stigmatise' would-be migrants – and says he wants 'everyone to speak the same language'
iJobs Money & Business
£13000 per annum: Recruitment Genius: This is an exciting opportunity to join ...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
£12 - £15 Hourly Rate: Jemma Gent: In this role you will report to the Head of...
£8 per hour: Recruitment Genius: This Pension Specialist was established early...