Comet administrators face record £1m fine

Comet's administrators face a record fine

The administrators of collapsed electricals retailer Comet are expected to be fined a record £1m over aspects of their involvement.

Deloitte and two of the partners that oversaw Comet’s insolvency have agreed to pay the fine, Sky News reported.

They will also be formally reprimanded by the Institute of Chartered Accountants in England and Wales, though the two people in question – thought to be Neville Kahn and Christopher Farrington – will not be banned.

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