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 Replica Back to the Future Hoverboard released
- 2 Katie Hopkins attacked me on Twitter — so I reported her to the police for inciting racial hatred
- 3 Brixton squat flats now costing up to £3k per month show how out of control rent is in London
- 4 A new (old) cure for MRSA? Revolting recipe from the Dark Ages may be key to defeat infection
- 5 Gamers confess the worst things they've done in The Sims
Costa Concordia: Shipment of Mob drugs was hidden aboard cruise liner when it hit rocks off Italian coast, investigators say
Brixton squat flats now costing up to £3k per month show how out of control rent is in London
A new (old) cure for MRSA? Revolting recipe from the Dark Ages may be key to defeat infection
Jeremy Clarkson 'could be given minder' ahead of a potential Top Gear return
Germanwings crash: 'Andreas Lubitz planned to marry pregnant girlfriend', claims German report
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
Street preacher quoting from the Bible fined for calling homosexuality an 'abomination'
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Woman filmed launching racist tirade against men on the Tube for speaking in 'own lingo'
The West has it totally wrong on Lee Kuan Yew
David Cameron calls Labour 'hopeless, sneering socialists' while announcing 7-day NHS plans
iJobs Money & Business
£50,000 - £55,000: Neil Pavier: Are you a professionally qualified commercial ...
£45,000 - £55,000: Loren Hughes: Are you looking for a new opportunity that wi...
Circa £45,000-£50,000 + benefits: Sheridan Maine: Are you a newly qualified ac...
£150 - £190 Daily Rate: Sheridan Maine: One of London's leading water supplier...