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UK retailer Comet close to administration: source

British electricals retailer Comet is set to enter into administration next week, the latest household name to fall by the wayside in the consumer downturn.Directors of the struggling company, which employs 6,500 staff in 240 stores, filed a notice on Thursday to a British court, a spokesman confirmed on Thursday."Comet Group Limited can confirm that it has taken steps to seek the protection of the court with a view to the company entering into administration during week commencing Nov 5," the spokesman said."In the meantime the board is urgently working with its advisers to seek a solution to secure a viable future for the company," he said.Deloitte has been lined up as the potential administrator, a separate source told Reuters.The notice to appoint administrators is a legal move providing companies with an initial five working days breathing space to discuss any possible survival plans with their nominated administrator. That can be extended to 10 working days but formal administrat...

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