Comet to go into administration

Around 6,500 retail jobs are at risk after electrical chain Comet confirmed that it will be put into administration next week.

Private equity firm OpCapita, which owns the 240-store business, has lined up restructuring specialist Deloitte to act as administrator.

OpCapita bought Comet last year for just £2, but the business has struggled from the downturn in consumer spending.

Dan Wagner, a technology entrepreneur from Powa Technologies told BBC News that Comet "was an accident waiting to happen".

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