High street chain that closed all 236 stores in 2012 set for major return

COMET, THE HIGH STREET ELECTRICAL CHAIN, IS SET TO RETURN TO TRADING AFTER COLLAPSING IN 2012 - ONLINE MARKETPLACE ONBUY.COM HAS BOUGHT THE BRAND AND IS EXPECTED TO RELAUNCH THE BUSINESS

03:12, 23 May 2025 The iconic high street giant Comet is poised for a comeback after its 2012 collapse. The brand has been bought by online marketplace OnBuy.com, which is set to reboot the

business as an online-only venture. The new Comet website will be sparking into life by Christmas, offering a digital haven for electrical goods manufacturers to showcase and sell their

wares. But don't expect to see Comet shining on the high streets again – this resurrection is strictly virtual. The revival comes over a decade since the chain suffered hefty losses and

shut down its 236 shops in 2012, leading to a staggering 7,000 job cuts. OnBuy's founder, Cas Paton, is buzzing with plans to pump over £10million into reviving Comet, promising to

preserve the store's classic branding. The Greater Manchester-born entrepreneur gushed: "I am so excited, so thrilled. Growing-up, I went to Comet to get what I needed. It was a

brand that was close to me personally." He's on a mission to restore Comet to its former glory in British households, banking on the name's recognition by a whopping 70% of UK

adults. Despite facing stiff competition from behemoths like Amazon and high street stalwart Currys, Paton is confident that Comet's stellar reputation will help it outshine rivals.

The founder, who launched his first enterprise at 21 with just £80 after he left the Royal Navy, vows that Comet will dazzle consumers with "more choice and more competitive

prices". He boldly declared: "We will be ultra competitive and undercut Currys and Amazon." OnBuy is set to pour a hefty chunk of its £10million investment into revamping

Comet's technology, with the relaunch anticipated to generate around 50 jobs. Established in London as an online marketplace in 2016 - a mere four years following Comet's downfall

- OnBuy now boasts a valuation of approximately £200million. Comet, originally set up in Hull in 1933 selling batteries and radios, later evolved into a renowned high street electricals

brand. This comes as high Street discount favourite B&M is opening four new stores next month as part of major new expansion plans. The first will be on the Horsteed Retail Park in

Chatham, Kent on June 6 with the creation of 80 jobs. Article continues below The second will be in Queens Parade, Winsford where a 22,587sq ft superstore will open its doors to customers at

8am on Wednesday, June 11, followed by Picton Court, Bridgend and Galashiels on June 14 and 2. _FOR THE LATEST BREAKING NEWS AND STORIES FROM ACROSS THE GLOBE FROM THE DAILY STAR, SIGN UP

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