By Daniel Hunter

Comet look set to be the latest big name high street casualty as they prepare to call in the administrators.

With the internet and stiff competition taking their toll on the electrical chain 6,000 jobs are under threat.

It has reportedly been trading without credit insurance, which protects its suppliers should the business fail.

The potential collapse raises the prospect of a pre-Christmas rush for discounted stock if an administrator looks to wind down supplies and raise cash for creditors.

Comet is owned by OpCapita, which snapped up the retailer for just £2 less than 12 months ago from Kesa Electricals as it struggled to compete against strong supermarket and online competition.

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