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Business News

Jobs at newly bought Comet face axe

Comet, the beleaguered electricals chain, is to axe at least 450 repair and support staff just days after it was bought by the private equity group Opcapita for a token £2 from Kesa.

Bob Darke, the 248-store retailer's chief executive, said "significant savings are required to secure the long-term viability of our business".

The company said the move would align it with "other electrical retailers... [and] focus resources more single-mindedly on store operation".