Could Comet return to the high street? New owner has ambitions to revive former electrical retail giant

Electricals retailer Comet collapsed in 2012 and was one of the biggest high street casualties Britain has ever seen. It's now back, but online only, and its boss, Cas Paton, has major ambitions for the group. Notably, he is not ruling out a return to the high street in Britain for Comet. The 236-shop business, which at the time employed around 7,000 people, was acquired in 2011 for the nominal sum of £1 by private equity group OpCapita. OpCapita failed to revive Comet's fortunes, as the retailer suffered amid the decline in consumer spending during the recession and the seismic growth of online rivals. The chain collapsed in November 2012. Thousands of people lost their jobs and were left out of pocket as a result of the administration, and taxpayers had to foot a bill of approximately £50million for unpaid taxes and redundancy costs. Comet, which was founded in Hull in 1933 and began life selling batteries and radios, was acquired by London-based online marketplace OnBuy in 2025. Nothing ruled out: Cas Paton told This is Money he had not ruled out a return to the high street for Currys OnBuy has said it wants to be a 'serious challenger' to rivals like Amazon and Currys.Last year, OnBuy said it planned to resurrect Comet 'as a marketplace at the apex of e-commerce'.This is Money asked Paton, founder and chief executive of OnBuy, if shoppers could expect to see Comet return to high streets across Britain.Paton told This is Money: 'Never say never. We've launched online because that's the right model for Comet now, but I'd love to see the name back on British high streets in some form.'We're already exploring partnerships that could make that happen. 'I don't think the answer is simply to recreate the old stores and pretend retail hasn't changed. 'It would have to be relevant, exciting and give people a reason to walk through the door.'Paton said Comet had been revived as a 'specialist electricals marketplace, to be a modern-day champion of tech, gadgets, and built around how people actually want to shop now'.He added: 'We are onboarding more suppliers and brands every day, so we expect the range, and the number of deals available, to keep growing over the coming months.'The chief executive said shoppers 'did not need another website selling everything'. He said: 'Britain needs great retail destinations that actually know what they stand for.'If I'm looking for a new TV, laptop or washing machine, I want proper choice, a great price and a shopping experience built around electricals. 'More competition matters because it gives customers greater choice. It forces everyone to work harder on price, range and the experience they offer. That's healthy.' Star deals: Comet collapsed in Britain in 2012, triggering thousands of job losses Get what you can: A photo from 2012 of a Comet shop closing down It's personal: For Cas Paton, the revival of Comet is personal as he visited the shops as a boyPaton said he also believed the Government was not doing enough to support retailers.He said: 'The Government is treating retailers as a source of revenue rather than an engine for growth. 'At the moment, businesses feel they are succeeding despite the system, not because of it. 'You can't keep increasing costs, adding regulation and then act surprised when shops close or investment goes elsewhere.'Retailers need stability. They need to know that employing another person, opening another location or investing in better technology won't be punished by the next Budget.'Stop trying to choose between online retail and the high street as well. The future is both. 'Give businesses the conditions to grow and let retailers work out how customers want to shop.'For Paton, the revival of Comet is personal. He remembers visiting Comet's Trafford Park store with his late dad Nigel as a boy and being blown away by the technology on display.So, Comet's back online, but it is operating in a tough environment. Competition from the likes of Amazon, Currys and AO World will not be going away any time soon. There were 738,144 British businesses in 'significant' financial distress in the third quarter of 2026, according to the latest quarterly 'red flag alert' report from BTG Consulting PLC, a Manchester-based insolvency adviser formerly known as Begbies Traynor. It comes against a backdrop of rising inflation in Britain, with energy bills set to increase further in January 2027 as the impact of the Middle East energy shock continues to feed through into the cost of living. 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