MegaSack DRAW - This year's winner is user - rgwb
We will be in touch
Well it looks like administration for Comet. I have a lot of sympathy for the staff who are losing ther jobs, but based on what I've seen in my very rare visits there it had it coming.
Very sad. Yes it was coming from a long long time ago (sadly).
My recent experiences with them over a fridge was appalling. I went all the way up the chain to the MD's office and was still told I'd need to pay a call out charge +costs etc.
A very clear illustration of evoke or die.
It amazes me that Argos are still trading. I don't expect them to be around in 5 years time though.
It'll be a different ARRRRGH!OS by then...
Yep. There's a long tradition in retail of getting big, then getting lazy whilst the directors enjoy their salaries, get old and comfortable and lose their competitive edge.
Then because electronics is such a competitive business, these chains are the only people with the buying power and size to shift enough volume at low enough prices, so they are the only option for us poor saps.
Or something, anyway. I guess that changed when Tesco etc muscled in on bargain stuff.
/vulture
Will there be any bargains to be had?
Bad news for the staff, but its been coming. Very poor reputation.
But you can be a bulk retailer without patronising your customers, and providing appalling service.
yeah they are big employers, shame the business model never really changed with the times - yet more empty units in the out-of-town shopping center....well until a poundland opens up.
could be some big bargains instore too!
I'll be sorry to see Comet go. I've had nothing but good experiences buying from them, couldn't be more helpful and the staff are a lot more polite than the scum in the Currys 2 doors down from them, whose management (both local & national) have never even acknowledged the 3 letters of complaint we've sent to them.
No doubt Currys/PC World will be next...
No doubt Currys/PC World will be next...
I doubt it if their biggest competitor is about to go belly up. Apart from the supermarkets, they'll have a monopoly position. Surely the holy grail for any organisation?
Yep. There's a long tradition in retail of getting big, then getting lazy whilst the directors enjoy their salaries, get old and comfortable and lose their competitive edge.
theres a different game being played when venture capital gets involved - theres a lot of money to be made from a company going belly up.
For example:
Take a successful retailer with a good rep
Buy it
Reduce staffing levels, reduce stock levels, reduce maintenance, stop replacing dead bulbs in the carpark (in doing so reduce running costs)
For a while customers will keep coming, out of habit, even though the service is poor and they can't always buy what they came for, and the place is looking more and more shabby.
During that time the retailer appears to be more profitable in terms of costs per sale
Sell retailer at a profit
New buyer pays too much for it and buys it just as customers have had one too many disappointments and stop coming through the door.
What also kills a lot of these big chains is being bought by people who've had to borrow the money to buy them, so the day they are bought the are immediately in debt and from then on are saddled with servicing that debt.
But Binners, the relentless competition from the online retailers will bear down on Currys/PC World as well...
New buyer pays too much for it and buys it just as customers have had one too many disappointments and stop coming through the door.What also kills a lot of these big chains is being bought by people who've had to borrow the money to buy them, so the day they are bought the are immediately in debt and from then on are saddled with servicing that debt.
Is that really how it works?
A lot of these sales seem to be for a nominal amount (in Curry's case £2), with a cash payment (£50 million I think in this case) paid to the purchaser.
Pretty sad in my opinion...I found them to be MUCH better to deal with than PC World / Currys who are what we are left with on the highstreet.
In fact this sums it up much better...
I'll be sorry to see Comet go. I've had nothing but good experiences buying from them, couldn't be more helpful and the staff are a lot more polite than the scum in the Currys 2 doors down from them, whose management (both local & national) have never even acknowledged the 3 letters of complaint we've sent to them.
Aye, way better than DSG, who are an utter shower IME.
Just because they go into administration, it doesn't mean they are doomed. In fact, potentially quite the opposite.
It's the unsecured creditors that are definitely in trouble. Not Sony but maybe the distributors of the products on the shelf that might get sold for peanuts.
Is that really how it works?
not specifically for Comet (but I also wouldn't look at the most recent changes of ownership for any chain that hits the buffers). If was responding to Molgrips' notion that the directors of these big chain were sitting with their feet up watching the cash roll in. The people who established these chains and made them successful will have long left the building.
I wouldn't touch Currys/Dixons. Still their instore displays etc were waaaaaaaay better than Comet. Comet stores looked terribly tired- a symptom that the last owners really did think it wasn't worth throwing money at. To go into administration just before their peak selling period....
The administrators may well save part of Comet. But there comes a point where no amount of rebranding or relaunching will save a busted brand.
Apart from the supermarkets, they'll have a monopoly position.
Well.. The market is changing. Discerning buyers don't go there, so they have to rely on walk-ins. And those people are seeing loads of tellies at good prices every time they do their weekly shopping.
They are trying to get 'nice' looking stuff on display made of leather, neoprene or white plastic, to grab impulse purchase. And I think there's definitely a market for that kind of shop along with a place to pick up 'essentia'l items (ie new headphones for yours that broke or a spare memory card etc). TVs and washing machines though - not so sure.
Perhaps they should have purchased a guarantee to cover the event of problems with the business?
I popped in to buy a filter coffee machine a while ago, it cost about £10. They tried to hard sell me guarantee that cost £30!
I don't like being sold to nowadays, I like to be given enough information to make my own decision. Their model is out of date and hasn't evolved at all. For that reason, I'm oot
If was responding to Molgrips' notion that the directors of these big chain were sitting with their feet up watching the cash roll in.
Ok so that was speculation.
Mrs Grips worked for Borders books for a while. That was not doing particularly well despite being a huge chain in the US. They were bought by a consortium of business people who apparently had zero interesting in running a book store, and were either trying to make it profitable and sell it on or strip assets. In the end, the latter was what happened.
Their model is out of date
Well it wouldn't be if their staff knew more than their customers. Many buyers are now well armed with reviews, specs and info from teh internets, so you really want to be able to look at the stuff in a proper setting and ask specific questions of someone who really knows their subject.
You don't get that in DSG, you didn't get it in Comet either. John Lewis are better and guess what? They are doing well.
Never been in a Comet store.
Been in Currys though and bought stuff.
Isn't this something to do with Insurance and them being refused cover for losses or a premium sooo large they couldn't pay it?
As said, supermarkets will eventually take over the (rest of the) distribution of electrics n stuff.
On my fridge- I told in store by the Store Manager 'nothing to do with us but I can give you the number of a repair company'.
and then..
'You should have bought the extra protection'.
I'll shop where my custom is valued. Be it a Supermarket or elsewhere for my electrical goods in future.
I dislike Comet and won't shop there. For me they never recovered from warranty mis-selling, we were duped into a free warranty - pay £100 upfront and then get it back after 5 years, despite keeping the receipt and paper work as required we never got our money back.
In my home town the Sony and Panasonic shops have closed down. More and more people are buying online. What we do need to think of is which companies might replace the loss of employment and the loss of business rate income which our local authorities rely on.
Another that is not surprised. Bought a washing machine online that was [b]entirely[/b] different to the website description (ie, spin cycle not as fast, no quick wash, drum size different, no delicates wash etc.
But, because I had plugged it in and used it, they said it was deemed accepted. It took me hours on the phone arguing (politely but *VERY* firmly) before they backed down.
Two months later the same description was online.
Oh. I've just had a business idea.
You become an independent expert in TVs or whatever, then for a small fee you advise people either over the phone or in real life and tell them what to buy.
Might not make a lot of money though 🙂
It took me hours on the phone arguing
On their expensive 0871 number?
My wife tried to buy a new kettle at Comet recently.
They had problably 30 different makes/models on display.
And [b]one[/b] in a box that you could walk out the store with then and there. This is a massive store and they had one kettle available to sell. Rubbish.
The only reason left to go to a store is to see the product and be able to get it there and then.
She ended up picking the one she liked and coming home and buying it £10 cheaper on the web.
Woolworths failed to respond when their market changed & their biggest profit line swung towards t'interweb sales and the supermarkets- they went bust.
Comet, like a few others of late, have gone the same way despite having the Woolies example as a warning.
I think Currys/Dixons would go the same way if it wasn't for PC World being in the group as folk still seem to prefer to walk into a store to buy pooters & stuff.
Maybe I'm unsophisticated but I like just walking into comet get getting something you want.
I really can't be ar5ed with comparing washing machines, hoovers etc…. even TVs .... boring.... too much choice, not enough time.
Get down comet … pick your price point… have they got it in stock... Yes…. Great that one then please... lets get outta here and do something far more enjoyable than wasting time on consumer rubbish.
I popped in briefly when I was looking at laptops a year or so ago. The staff didn't seem to know any more about what they sold than what they read off the little cards on the display, which had varying levels of information and accuracy. A lot of models they only had the display ones available, which were looking pretty tired.
Or: go on Amazon, have much more information available and be sure it actually refers to the thing you're looking at, and get a brand new one cheaper without having to actually go to the shops.
So I'm surprised they've lasted as long as they have. The internet means the only angle shops (of any description) have is service, expertise and convenience- if they can't do those they won't last long.
[i]I'll be sorry to see Comet go. I've had nothing but good experiences buying from them,[/i]
+1
I worked for them +20 years ago in their HO (Programmer - Easytrieve+ and CICS Cobol DL1) which was then still in Hull (the firm started there charging batteries for home radios - how the world has changed...).
tbh It started to go downhill after they'd fought off a Dixons' takeover, and then brought their management in - and then moved the HO down south.
Wonder what will happen with my pension 😥 I answered a post on pensions last week where someone was talking of bring all theirs together, and advised not. This is why.
Can't say I'm surprised. The staff in our local one are dire; I popped in there last week to enquire if they knew when they were getting stocks of the new fourth generation iPad and was told rudely that there was no such thing, only the iPad mini. I tried to explain that there was a new version due out with a faster professor and different connector...but no, all the info on web is wrong, as is the Apple web site that had them up for pre order. He was supposed to be one of the tech guys....
Went to John Lewis who said they expected to have them in on the 2nd as they hadn't been told otherwise. I only went to Comet because I've got some vouchers.
On their expensive 0871 number?
Not a chance - I always find the normal call numbers (and we get free calls with our business plan so it cost me nothing) - apart from the 2 hours billable time I was sat on the phone to them of course.
I only went to Comet because I've got some vouchers
I'd use em up asap. the moment the administrators are in, and the stock is being sold off for peanuts, they'll be worthless.
these shed places are a con-- you can go to an independant family run place and buy the same stuff for less, with personal service and after sales thrown in for nowt . This is part of marketing bull, bigger is always cheaper.
price of veg in Tesco- price of veg in a market
one bought a kettle from comet
got it home and realised the one on the shelf didn't match the sign on the shelf
Took it back to same store 2 hours later, unused and with receipt, yet they wouldn't exchange it for the right one*
Never ever bought from them again.
*I forced them to exchange by leaving the original kettle and £5 price difference on the counter an walking out with the right one saying "call the police if you want".
Not a chance - I always find the normal call numbers (and we get free calls with our business plan so it cost me nothing) - apart from the 2 hours billable time I was sat on the phone to them of course.
I was being passed from pillar to post round their call centre so I went onto Linkedin and contacted as many senior management as possible. The MD's office called me back, talked me through then said 'tough titty' basically. Gobsmacked by the response. Basically after 6months the fridge cut out- repaired by them. Less than 1yr later the same fault re-occurred. Nope- not their problem. They magically looked into the issue and said 'its not the same fault as last time' without even having an engineer present to check. I asked if a large expensive product could be fit for purpose/good for the bin after 18months and/or their repair wasn't upto scratch etc..
I ended the call with I'd leave the fridge in the middle of the shop on a Sat afternoon. YOU CANT DO THAT! I was told.
I'm surprised they lasted this long, shite service and uncompetitive prices - a sure fire combination for eventual demise.
The few times I have bought anything off Comet these last few years they always amused me by offering their 'Extra care warranty' for "Peace of mind use".
I have only ever bought a couple of PC cables or Telephone fitting for less than a tenner and the wanted half of the price of the item for a warranty.... Fair enough for a TV or Fridge or whatever but they had obviously been told to push this, but it was a bit pathetic really.
The really sad thing is that we will all be shopping in either a chain supermarket (Tesco’s, Sainsbury’s, Wall Mart, etc) or on-line (Amazon Tesco’s, Sainsbury’s, Wall Mart, etc) in the not to distant future.
Limited choice and so-so customer service driven by the monopolistic market they/we have created. 🙁
I bet *DSG have already been on the phone to the administrators!
They will cherry pick the best locations and the profitable stores. They will pay a ridiculously low price and the creditors will be left high and dry. DSG will then run those stores as Comet, just so that the general public think there is competition in the sector.
*Although from memory when Best Buy went bang late last year, I don't remember anybody stepping in to cherry pick their stores!
From a selfish point of view, I'll be getting myself down their in the next day or so, to see if I can pick up a bargain from the dishwasher department.
the problem with the whole "extended warranty" thing is that people dont get that all products come with a 12 month warranty anyway!!
also having previously worked for a big electrical retailer where too much focus was placed on selling and pushing extended warrantys its a flawed business plan, the warranty plans as soo profitable that the business bosses focuses on them as it makes the business look healthy then when the price point and quality of the products is no longer there they wonder what went wrong!!
EWs are basicly a bet that your device will break down within the stated time. Sometimes it is cheaper just to save your money and accept that you'll be buying yet another one sooner than you'd want to thanks to the mad policy of planned obsolescence and products designed to fail.
I've made good with two extended warranties from Comet and DSG group.
Our local Comet was refurbished & is much more modern than the Currys/Dixons - actually a decent retail shop but the always seem to be overstaffed to me.
I bought a TV from them about 6 months ago, all very polite staff etc.
Got it about £100 cheaper than I could get it online.
EWs are basicly a bet that your device will break down within the stated time. Sometimes it is cheaper just to save your money and accept that you'll be buying yet another one sooner than you'd want to thanks to the mad policy of planned obsolescence and products designed to fail.
I was offered an EW on a washing machine (can't remember if it was Comet of Currys) where the price of the EW was £10 less than the cost of machine itself. Didn't have to think too hard about turning that offer down, although I had to sit through the sales pitch from the poor guy trying to somehow make paying for two machines but only receiving one seem like value and peace of mind.
At the time I preferred Richer Sounds' EW - £10. And if you at the end the warrantee term if you hadn't had to claim you can ask for your £10 back.
With regard to EW's we always self insure (with one "free" warranty exception I quoted above) we buy from John Lewis, so they provide an extended warranty anyway. We take the view that the machine will not breakdown and if it does we'll pay for the repair or if the machine seems like it getting towards the end of it's life we'll buy another.
I'm pretty incompetent at DIY but I changed the pump on our washing machine, researched it online (huge numbers of machines use the same pump I discovered) ordered it (£25) it took 30 mins to fit most of that time getting the machine out and back into the space under the work surface.
There could be another model in play here, that of the "pre-pack administration" which allows a company to fold without paying its debts, its assets then bought by a pre-determined new company (often the same people!).This allows the company to unburden itself of nasty debt, loss making divisions etc Highly dubious practice?
That above is what was reckoned on R4 this morning, that someone will step in to take it over (it was only taken over a few months back for £2 already)
As per thread on the Nexus 7 / Playbook / i-pad Mini; I have a credit balance with Comet over a repayment taken after the balance was cleared, but it is small enough and sufficient hassle to try to get back that I've left it on the card until i make a new purchase. Which i thought would be the N-7 except they are £20 more than the other stores. no issue, they price match. So I had a great visit just a couple of hours ago.
"I'd like a Nexus 7 please, but I want you to price match it against PC World" (literally two doors down)
"We can't do that"
"Why?"
"Because what we're selling is different to them"
"How?"
"because ours has 2 years free warranty"
"But it's £20 more expensive"
"That's because you get 2 years warranty"
"So it's not free then?"
"Well it is, because the cost is bundled in with the price of the tablet, so you don't pay for the extra warranty"
"Apart from the £20 extra that you're charging"
"erm"
"Can i have it without the warranty?"
"No"
"So you're forcing me to have a warranty I don't want and charging me £20 extra for it"
"Erm"
"I'll go next door thanks"
So in short - does my credit balance make me a creditor and likely to lose it if they go under. Might be forced to buy something just to make sure I get it back.
I have to say that the story about what happens when retailers are sold to venture capitalists is very true. I used to work for Hombase, and Sainsburys sold us off to pay for their own store expansion plans as they could get a lot of money for us as we had always done well in the marketplace.
A few months after the sale we noticed that there was a lot of "stack em high, sell em cheap" offers coming in, stuff that didn't really fit in what we normally did. It was a struggle to get any work on the stores done and staff levels dropped.
Thankfully they lost their nerve about making a huge profit and sold us to Home Retail group - who own/is Argos. Being owned by a retailing group is much better as they understand what needs to be done to keep sales high and customers coming in.
I eventually left but I will still be buying a kitchen from them next year.
Homebase did ok when the banks went pop as they own a lot of their estate and don't owe much money. A lot of the big chains who opened stores rapidly are in a lot of debt.
We knew MFI were going to go to the wall a year before they did as we looked at their stores and offers and saw they were desperate. I tried warning people off them, especially when it came to buying a kitchen or bathroom off them but no-one believes you when you have a Homebase shirt on! They did eventually and a lot of people lost a lot of money they had paid upfront.
My wife also works in retail and we often walk into shops and think "this place won't be here long". We just get that feeling because of the state of the store, or maybe it's the stock they have in, or stock levels. Most people wouldn't notice.
My wife also works in retail and we often walk into shops and think "this place won't be here long". We just get that feeling because of the state of the store, or maybe it's the stock they have in, or stock levels. Most people wouldn't notice.
Agree. If you've worked in retail you 'know'. Habitat was precarious for years.
Come on then Robdob, who's next then?!
Habitat was precarious for years.
That was a great loss, one of the few places which did solid wood furniture. Even John Lewis furniture is all veneer over chip board.
Surely you can't be saying "this place won't be here long" for years?
Comet: amazed it lasted that long.
Typically dreadful lazy customer service from a company that forgot the most important thing-the customer.
Last purchased from there in 2000; bought a VCR from them badged as being HQ picture. It wasn't, it was dreadful. They totally refused to replace/refund, stating "you're wrong" on the customer helpline. AFAIK, the customer was always right, and you looked after them!
Sad for those that lost their jobs though. Never nice to see.
footflaps when I worked there it was known as shabitat!
The thing that annoyed me about Comet was that if you stood in the store with your phone out an assistant would make a bee line for you (even from across the other side of the store) and ask you if you needed any help. I imagine they thought I was checking prices on line or something (when on three occasions I was texting a friend). It became a game after that!!
Best spend my gift vouchers quick 😯
http://www.moneysavingexpert.com/news/protect/2012/09/comet-named-easiest-for-haggling
OpCapita bought Comet for £2, 9 months ago, someone might be able to haggle it down to £1.
As mentioned earlier, drawing up my list of stuff to purchase when they need to sell the stock off..
Apparently they'll go into liquidation on Tuesday, according to an email I received, regarding the spending of vouchers, gift cards, etc.
As mentioned earlier, drawing up my list of stuff to purchase when they need to sell the stock off..
Don't expect it to be bargain-bargain cheap as there will be buy-fever, people grabbing something/anything. Plus what will you do for warranty?
theres a different game being played when venture capital gets involved - theres a lot of money to be made from a company going belly up.
What also kills a lot of these big chains is being bought by people who've had to borrow the money to buy them, so the day they are bought the are immediately in debt and from then on are saddled with servicing that debt.
Eh? PE is based on high debt to equity ratios. Even in a straight trade sale (which is still tricky, given the amount sitting in VC funds waiting to be invested) beyond a certain size of deal no-one pays cash, it's all financed.
No business "deserves" to go under.
Sadly Comet have failed to adapt to a changing market and have missed lots of opportunities. Hopefully the administrators will be able to wield the axe where necessary (upper level management/board failings) and put in a new team who can make sense of the rather disjointed product set and incoherent branding. Get the impression that over the last few years they have lost direction as a company and don't actually know who they are anymore and who their target market is.
So many missed opportunities - upsells, customer data management to run targeted promotions, package deals etc.
Pricing was always miles out, indicating that even with the added cost factor of bricks & mortar, they were massively out of touch with competitor pricing. Should have been constantly reviewing & then using their buying power to renegotiate with the suppliers. Then have an "added value" proposition of proper experts (or even semi-experts) rather than the sub-retail teenage boys manning the shop floor. Contrast with CDG and their bright, enthusiastic and pretty knowledgeable staff, and you'll see that there is no reason to shop at Comet as it stands.
None of it is unrecoverable though if the right rescue team is dropped in. Hope they make it work.
Plus what will you do for warranty?
Warranty will be with the manufacturer. So buy LG, they are great.
One thing that I am happy about....Fopps was saved.
Sad days when Borders went
Sad days when Borders went
Borders were pretty much responsible for initiating the mess (pre-Amazon) that UK bookshops are in. Was all a bit ironic really.
LG told me to deal with the point of purchase.
All I know is that in my whole life I have never set foot in a Comet store.
LG told me to deal with the point of purchase.
Your reputation precedes you, Mr H.
Besides, they will not say that if the retailer has gone spectacularly and publicly bust, will they?
My TV started going to standby at random. LG asked if I was in the following day as DPD would pick it up. They brought the latest model in return. No arguement, no messing. Brilliant.
footflaps when I worked there it was known as shabitat!
I've got a lot of their solid oak stuff and it's superbly made - mind you wasn't cheap, but will last a lifetime.
As I was near anyway, I went into Comet today , to be honest wanting to see if there were any pre Christmas bargains to be had . I was very surprised to see the store very very busy, the tills had people paying for things and not a 'SALE' sign in sight.
ditto landcruiser!
It was like that in Habitat and Woolies when they first announced they were going. Buy-fever takes over. People have to leave with something.
I think the whole model of out of town retail parks (not including supermarkets) is looking a bit ropey to be honest. I don't see the attraction of spending Sunday morning in a big cold carpark full of big cold shops with a limited product range, no customer toilets, fairly obvious price fixing, dreadful overpriced "cafes" and all the soul of John Major's orthopedic footbeds.
I particularly liked the fact that prior to Borders brief existence you couldn't actually buy a DVD to play on your shiny new telly, or books to put on your self assembly shelves...
I worked for them +20 years ago in their HO which was then still in Hull.
I'd forgotten that. My dad bought a lot of our home electronics from there 20-30 odd years ago.