A famous electrical retailer is making a comeback more than a decade after it shut nearly 240 stores. Comet has been bought by online marketplace OnBuy which plans to inject £10 million into the brand.
OnBuy founder and chief executive Cas Paton said he wants to “rebuild Comet into a powerhouse for consumer electronics”. He said: “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 placed into administration in 2012, leading to 240 store closures.
It was sold to Misco Technologies which relaunched Comet as an online-only retailer in 2020.
Comet’s website will be relaunched later this year, according to Retail Gazette.
The site currently reads: “Comet’s making a comeback! We’re reviving the brand you love to bring you the best tech, brands, and deals worth waiting for. Watch this space!”
Managing director at Misco Technologies, Adam Muir, said: “We’re delighted to be leaving this household name in the hands of one of Britain’s leading technology businesses.
“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 be created following the relaunch, The Sun reports.