What now for Comet?

With Comet now in administration Chairman John Clare must be regretting his belief that the key to success for the business lay in low prices. Not only that, the company had a tragic lack of focus on online and multichannel retail.

Jon Copestake of the Economist Intelligence Unit said: “Not only has Comet faced deflationary pressures thanks to stiff competition and cheaper production costs but core audio visual products are being undermined by combined platforms on smartphones and tablet computers. The fact that OpCapita obtained the chain for a nominal £2 last year highlights the challenges faced by specialist electronics retailers.”