Former Comet employees win share of multi-million pound settlement
The final sum of the settlement could be more than £10m, which will be met by the taxpayer.
More than 2,000 former Comet employees filed a claim against owner Comet Group Limited and administrators Deloitte, following the retailer’s collapse in 2012.
The judgement, published on Thursday, says: "Mr Edwards, [counsel for the largest group of claimants] setting out the general case for the claimants, put the argument bluntly: 'As Mr Walters evidence makes clear, this was simply an old fashioned corporate raid that resulted in a number of private equity investors choosing to liquidate a 75-year-old British company, at a cost of almost 6,900 jobs in order to realise a quick and substantial profit.
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