Electrical retailer Comet, who have a superstore in Woodside avenue, has been sold today to a private equity company for just £2 leaving employees to face an uncertain future.
French parent company Kesa were anxious to offload the struggling chain after revenues dived by 22%.
The bad news comes days after it was announced that Hedge End Best Buy stores is to close with the loss of a 100 jobs.
The electrical goods market has been hit by the recession, internet marketing and competition from Supermarket megastores like Asda, Tesco and Sainsbury’s who discount big ticket electrical items like TV’s.
Sainsbury’s in Eastleigh is currently offering 32” LCD TV’s for £169 while the cheapest in comet is £249. Shoppers in Sainsburys and Tesco can also use their loyalty club points to purchase items.
Internet retailers like Amazon.co.uk offer discount – straight from the manufacturer prices -and free delivery.
Comets new owners have promised to keep the business running for at least another 18 months , however it is reported some of the 250 comet stores will be shuttered.
It is not known if this will include the Eastleigh outlet which last November underwent a quarter of a million pound refit before a razzmatazz re-opening by Mayor John Caldwell.
see also: Bye Bye Best Buy