Government launches investigation into Comet's collapse

Final stores close today.

Comet's 49 stores close today. Photograph: Getty Images

The government has launched an investigation into Comet's collapse after allegations that OpCapita and backers had charged Comet £12.8m for financing and "monitoring" fees, despite the company's spiralling losses.

Here's the Telegraph:



Comet's final 49 shops are to close today, after the store went into administration last month.

The company's collapse has been costly: the government lost £49.4m in unpaid tax and redundancy payments, and according to Deloitte unsecured creditors will recover less than 1 per cent of the money they are owed.