Former Comet owner OpCapita promises full assistance in the Government inquiry into why the retailer collapsed into administration.

OpCapita said: “We will of course assist fully with any inquiry and welcome the opportunity to provide BIS [the Department for Business, Innovation and Skills] with factual information relating to the circumstances which led to Comet entering administration.”

The private investment firm, which acquired Comet in February for £2, drew attention to administrator Deloitte’s initial creditors report, published this week, which sets out the turnaround plan it had for the electricals firm, which it said included “a series of measures designed to improve the profitability of the business”.

BIS launched the inquiry, under section 447 of the Companies Act, yesterday, the day that Comet closed its final stores.

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