Feel Sorry for comet workers

[TheSmiler]

https://www.thesun.co.uk/sol/homepage/news/money/4622800/Electricals-chain-Comet-in-chaos-after-collapse.html

Wonder when it will ever stop with the amount of jobs lost already.
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CB125>CG125>GN125>ER5>K100RS>R1100RS>K100RS
A2 completed 23/07/15 Ready for the Golden Crisp Packet

[fatpies]

Comet tbh is a dinosaur.

Amazon and such like make a killing on lower prices as they don't have extortionate rents and business rates to pay. Nor does amazon actually pay any corp tax.

Think how big a comet store is and biz rates are typically around £100 per sq ft every year.

Idiotic councils who have never had real jobs think crap, our income is dropping like a stone. Lets put in parking charges and increase biz rates even more. Which pushes prices comet has to charge even more and makes people avoid those places.


They forget if you keep stealing other peoples effort, eventually the person you're stealing from will throw in the towel.
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"It's easy to attack and destroy an act of creation. It's a lot more difficult to perform one"

[Walloper]

THE BANKERS are the culprits.
They all still have jobs or rich beyond needing a job the bastirts.


End of Thread
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W-ireless A-rtificial L-ifeform L-imited to O-bservation P-eacekeeping and E-fficient R-epair

[smegballs]

[Old Git Racing]

I also feel sorry for the workers, pawns in the big game. Comet were effectively a giant credit broker, that's how they made money not through being an electrical retailer. When the banks/insurance companies refused to give them insurance for bad credit down they went.
It's true, there is a bit of darwinism about it but as usual the main people to suffer are the plebs, us lot.

OGR
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2022 Tiger Sport 660 2019 Street Twin 2003 K3 gixxer 1000 1998 Srad 600 track hack

[LustyLew]

Oh well.

Always found Comet a bit underwhelming.

Went in there when they had an offer on a Smart Plasma 3DTV package, only to have the sales dude tell me it's shit and expecting me to fork out more than double for just the TV!

Their display was shit, massive gaps everywhere and the staff just don't seem to give a toss.

Take a look at John Lewis. Stores are always smart and very well presented, as are their staff. They KNOW about the products and the technology and generally give a toss what the customer thinks.

If I say I've got £600 to spend on a TV, I have £600 to spend, NOT £1,000 and no, I dont want to 'bung it on finance'!

Good riddance to a shit hole IMHO! They've been floundering for years!

Just a shame about the 6,000 odd people out of a job...
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Like a Yorkie - I'm not for the girls

[Walloper]

[yaigi]

What a coincidence, I drove past a Comet store last weekend and commented how crap it was looking, how they seem to have dropped behind the times, not kept up with even their main competitor Currys, and I wondered how long it would be til they went bust. It's a sad situation for the staff but tbh I would have seen it coming if I worked there; Best Buy went, Currys have closed loads of stores and had a massive re-vamp, Comet have done bugger all.
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What would you do in life, if you knew you could not fail?
Currently own - Fazer 600, 2000, Red. (But no riding as baby on board atm)

[Rogerborg]

So, did you choose to buy anything from Comet when you could have got it cheaper elsewhere?

If not, then here's the reason why they've gone under:

https://1.bp.blogspot.com/-p5L8yIxzazU/UE3pCGLQZvI/AAAAAAAAAXY/STZWw2k636I/s1600/Framed_Mirror.jpg
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[woo]

A big problem for many of these companys that go into adminstration is the simple fact that their cash flow position is very bad!

If you have high profits but bad cash flow management then you will go into adminstration as when your creditors demand payment for your stock (as most stock is bought on credit) they simply dont have the money to pay these liabilites there and then.

Profits and cash flow are very different things and if not managed correctly you end up screwed

Their stratgic financial advisor takes the piss as he should have been forumlating a strategy to copy, improve & implement on how to get into the online market in a similar fashion to Amazon and other online companys, but he just took his pay check and did bugger all hence the problem Comet now have.

If your competor's are doing something that really works copy their idea and tweak it to suit yours, (Samsung vs Apple, Gumtree vs Loot) PRIDE makes you slow to act to the market and can lead to going into admistration especially in the electronics field not so much in the fashion field as PRIDE kinda is what makes you who you are there.
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Elen sila lummen omentielvo!

[Easter Bunny]

Good on the suppliers cutting the credit chain , too many companies will just pull the plug and stuff suppliers up in the process.


Obviously the job losses is regrettable and theres gonna be big holes in the high street soon

https://www.bbc.co.uk/news/business-20054168
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The light at the end of the tunnel is an oncoming train!

[dodgydog]

Interesting article on their demise.

https://www.telegraph.co.uk/finance/comment/9649664/Comet-another-OpCapita-kiss-of-death.html
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I know that you believe that you understood what you think I said, but I am not sure you realise that what you heard is not exactly what I meant

[Easter Bunny]

I seriously thought about out bidding him and buying comet for £1.50 I mean you only need to get a packet batteries outta the place and you'll be up
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The light at the end of the tunnel is an oncoming train!

[soforene]

[oldpink]

feel sorry for the staff but looking forward to the sale, lots of cheap electrical goods in time for Xmas
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I have become comfortably numb

Theory & hazard 24-may 2016, CBT 8th June 2016, MOD 1 2nd Aug 2016 Mod 2 2nd-Nov 2016 - Current bike CBR 600 RR

[Golden Showers]

[Hetzer]

We have a Comet and Currys/PC-World next door to each other and I always go into both when looking for an item. Currys win every time on the sheer amount of choice and there's rarely any difference in price worth talking about.
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"There's the horizon! Ride hard, ride fast and cut down all who stand in your way!"

[Easter Bunny]

[smegballs]

[Polarbear]

The way things are going the only places you will actually be able to go and touch the goods will be Tescos, Asda, Sainsburys and Morrisons. Everywhere else will be closed down. Shops boarded up. Rates through the roof to make up for lack of buisness rates.

Buying on line will be the only option.

It's a fucking bleak future.
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Victory Cross Country American tractor.

[Polarbear]

[smegballs]

I suppose you could argue that all the online buyer and distance selling protections mean that it is actually more attractive to buy online.

DSR means I can send it back within 7 days, and the paypal chargeback system is certainly open to abuse from buyers.

[chris-red]

Richer Sounds FTW.
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Well, you know what they say. If you want to save the world, you have to push a few old ladies down the stairs.
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WANTED:- Fujinon (Fuji) M42 (Screw on) lenses, let me know if you have anything.

[keggyhander]

This rush towards online shopping is like lemmings chucking themselves over a cliff.

The downside to the high street or the retail park is the extra cost. I can't see why an item ordered and delivered from the same company should cost less than one that you've walked in and collected.

So when they retreat from physical stores completely and you've got to wait for delivery regardless, people are going to go for the ABSOLUTE cheapest online seller, often in the USA. So they're still losing sales.

Whatever the reason for Comet's demise it isn't for a lack of online selling. Currys don't make a mint from online sales. People GO TO Currys to buy stuff.

Personally I suspect that Comet's problem is one of image. They were probably seen as a little bit "Council", just like Woolworths became.

[el_oso]