Appliances Online boss questions Comet ‘white knight’

APPLIANCES Online, the Bolton-based white goods specialist which has bid more than £1m for the Comet domain name, has questioned whether the stricken retailer can be saved.

John Roberts, founder and chief executive of the fast-growing North West company reacted after it emerged that a Southampton-based entrepreneur, Clive Coombes, is looking at a deal to buy 180 stores from administrators Deloitte.

Mr John Roberts, 39, said: “It is still our view that it is very unlikely that a buyer will be found with the funds, credibility and required infrastructure to continue the Comet business as it stands.

“The home delivery network required, TUPE issues from administration and supplier support with associated credit insurance are only three of the huge practical obstacles to overcome if the business is to be operated on a slimmed down basis.

“One only has to reflect on how fast OpCapita burned through the dowry of £50m from Kesa to understand the risks involved.”

Appliances Online says it has seen its sales increase 10% since Comet’s administration and wants to buy the Comet brand name and url.

Mr Roberts added: “While the loss of jobs through the process is sad and regrettable, especially at this time of year, the electrical market is facing the same structural challenges as other retail markets such as CD’s, books and travel, where the service a customer receives buying online is simply much more convenient.”

Click here to sign up to receive our new South West business news...
Close