High road large makes UK comeback 13 years after shutting 240 shops | UK | News | EUROtoday

A well-known electrical retailer is making a comeback greater than a decade after it shut almost 240 shops. Comet has been purchased by on-line market OnBuy which plans to inject £10 million into the model.

OnBuy founder and chief government Cas Paton mentioned he desires to “rebuild Comet into a powerhouse for consumer electronics”. He mentioned: “Comet is a brand long associated with offering the very best deals in home appliances and consumer electronics. Its heritage is one that we want to protect and enhance using our innovative technology and business model.

“OnBuy’s marketplace already connects millions of customers with top brands and retailers, and we’re uniquely positioned to rebuild Comet into a powerhouse for consumer electronics, just as it once was – but with a modern, digital-first approach that will deliver incredible value and a seamless shopping experience to customers.”

He added: “We’re not just reviving a name; we’re reimagining what trusted electronics retail looks like in a digital-first economy.”

Comet was positioned into administration in 2012, resulting in 240 retailer closures.

It was bought to Misco Technologies which relaunched Comet as an online-only retailer in 2020.

Comet’s web site will probably be relaunched later this 12 months, in response to Retail Gazette.

The website presently reads: “Comet’s making a comeback! We’re reviving the model you like to deliver you one of the best tech, manufacturers, and offers price ready for. Watch this house!”

Managing director at Misco Technologies, Adam Muir, said: “We’re delighted to be leaving this family identify within the arms of considered one of Britain’s main know-how companies.

“OnBuy has highly ambitious plans to redefine Comet’s reputation as an e-commerce juggernaut, and we look forward to seeing this legacy brand taken to new heights.”

It is estimated between 50 and 70 jobs will probably be created following the relaunch, The Sun experiences.