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Comet Electrical in trouble

nadger
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Registered: 13-04-2007

Comet Electrical in trouble

Looks like they could be in real trouble as sold for £2
http://www.bbc.co.uk/news/business-15650763
24 REPLIES
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Registered: 14-04-2007

Re: Comet Electrical in trouble

Every time I have been into my local Comet in recent months it has tended to feel 'ready for closure'.
However so do many other retailers in the same line of work.
It's a sign of the times Sad
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Product of the Tyrell Corporation
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Re: Comet Electrical in trouble

They used to be a good low priced store when they first opened. Just a warehouse with boxes on the floors and shelves.
Now they're just another bland electrical superstore.
alanf
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Re: Comet Electrical in trouble

As with department stores I suspect that there is the the problem of people coming in to inspect  a product and then ordering online from someone else who doesn't have the expense of the physical stores.
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Re: Comet Electrical in trouble

Guilty as charged....
Experience; is something you gain, just after you needed it most.

When faced with two choices, simply toss a coin. It works not because it settles the question for you. But because in that brief moment while the coin is in the air. You suddenly know what you are hoping for.
community
Grafter
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Registered: 31-07-2007

Re: Comet Electrical in trouble

I used to do this with PCWorld...Used to have a good laugh at their prices and even tell them that I couldn't see them staying in business at those prices.
Wasn't long before they had to join up with Curry's in order to survive.
Infinity
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Re: Comet Electrical in trouble

"The buyer is a group of companies under the name "Hailey" advised by retailer turnaround specialists OpCapita."
I reckon Hailey is a secret subsidiary of Kesa.
Sold for £2 for some sort of tax benefits.
A manager at Comet once told me they only make money on the extended warranties, virtually nothing on items sold.
I think they will stop trading after Christmas and the sites they own sold off.
nadger
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Re: Comet Electrical in trouble

I was in Comet, at MK, three weeks ago, looking at freezers, and customers were definitely outnumbered by staff.
Went to nearby Currys and bought from them - did buy instore with home delivery and free removal of old freezer.
They tried to push insurance but declined - old freezer was still running, albeit noisily, at just over 19 years old so worth the gamble  Smiley
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Registered: 02-08-2007

Re: Comet Electrical in trouble

As previously stated in earlier posts many firms are having a hard time of it.
I Suspect Argos are another firm that will struggle, in the past you had to wait with a number of other people for your items, now you can often go in and no one is waiting although a few are browsing the catalogue.
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Registered: 12-08-2007

Re: Comet Electrical in trouble

I have to admit that I use Comet and Currys to view products that I then buy on line.  Another good retailer for price is Richer Sounds and I have bought from their store.  Their prices are good compared with Comet etc.
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Re: Comet Electrical in trouble

I did Xmas work a Comet a few years back and can confirm that we were encouraged (more like tried to force us) to sell Extended Warranties. My experience is that they are a waste of time and money and most people didn't even want to know.
I refused to push them when the customer obviously didn't want it and was told off numerous times.
Comet managers seem to be the worse of any managers I've met and do their level best to avoid the SoG act and ignore most other legislations if they can get away with it.
We most definitely parted company when the season was over.

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Community Veteran
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Registered: 12-08-2007

Re: Comet Electrical in trouble

Extended warranties are a goldmine to retailers like Comet and Currys.  Again this is something else I like from Richer Sounds.  They offer a 5 year warranty for 10% of the cost of the item being purchased.
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Re: Comet Electrical in trouble

Quote from: alanf
people coming in to inspect  a product and then ordering online

Guess I'm guilty of that as well. I remember, a few years back, looking in Comet at a new cooker just to see if it was suitable then ordering it online. If I remember correctly it was over £120 cheaper to buy online including the delivery.
Ellis
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Registered: 04-02-2011

Re: Comet Electrical in trouble

Just for a laugh about the extended warranties.
A friend was interesting in buying a computer and asked my advice. I did a recce of PC World, worked out which was the best for his purpose (I have been running a computer user group for 23 years). The we went to PC World and a sales person asked if he could help. My friend said "I've come to buy a computer and I've brought Mr Rowell with me as my adviser. We bought the computer I suggested and a printer, they never even suggested an extended warranty. I think that took the wind out of their sails (sales).
David_W
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Re: Comet Electrical in trouble

It's technology moving forward faster than a speeding fast thing.  If you have a mobile phone you can download an app, go into a store (any store, even tesco's) and scan the barcode, the phone will then check the internet for you to find the best price online, you don't even need to search these days.  Bricks and mortar stores are at a disadvantage here, internet prices can be a *lot* cheaper due to lower overheads so until they can work out that selling more for less is the way forward they will continue to struggle.
I mean, when you can compare prices on anything from tins of beans to a 40 inch 3D LCD TV at the touch of a button and save either a few pennies or hundreds of pounds it's a consumer market Cheesy