Comet liquidator sues French retailer Fnac Darty
Comet’s liquidator, FRP Advisory, is suing French retailer Fnac Darty for £115m over aspects of the electricals retailer’s collapse.
Fnac Darty formerly owned Comet, which it sold for £2 a year before its demise in 2012. However, Fnac Darty received £115m as part of a financing deal with its new owners, the Financial Times reported.
Comet’s collapse led to the loss of more than 6,000 jobs and a £44m bill to taxpayers. It is alleged by FRP Advisory that the payment to Fnac Darty broke insolvency rules because it was paid ahead of other Comet creditors.
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