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Comet may close in the UK |
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#1 |
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Forum Member
Join Date: Sep 2005
Posts: 477
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Comet may close in the UK
http://www.techradar.com/news/world-...treets--956178
If this goes ahead what will happen to the Guarantees if you buy something and they close before it expires. Last edited by StarDelta : 17-05-2011 at 07:10. Reason: mistake |
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#2 |
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Forum Member
Join Date: Apr 2006
Location: North Derbyshire
Posts: 41,794
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Quote:
http://www.techradar.com/news/world-...treets--956178
If this goes ahead what will happen to the Guarantees if you buy something and they close before it expires. For extended warranties, they 'should' be insurance backed, so you simply contact the insurers for any claims. This IS NOT the case with Richer Sounds though, who aren't insurance backed. |
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#3 |
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Forum Member
Join Date: May 2009
Location: Edinburgh
Posts: 9,468
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Quote:
If this goes ahead what will happen to the Guarantees if you buy something and they close before it expires.
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#4 |
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Forum Member
Join Date: Mar 2009
Location: It's Grim
Posts: 24,412
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Quote:
For manufacturers warranties, the warranty can then be administered directly by the manufcaturer.
For extended warranties, they 'should' be insurance backed, so you simply contact the insurers for any claims. This IS NOT the case with Richer Sounds though, who aren't insurance backed. If they don't insure their extended warranties are they the only company to not do so? If not then why mention them specifically. Just wondered why you feel this info on Richer is relevant to a thread about Comet, do you work in the business? If you do then you should declare it on every post I think. |
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#5 |
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Join Date: Jun 2009
Location: Hull, UK
Posts: 7,364
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No! They're a local business (it was founded in Hull), lots of jobs will go in my area if they get broken up.
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#6 |
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Forum Member
Join Date: Mar 2009
Location: It's Grim
Posts: 24,412
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Yes it's bad, the parent company (Kesa) would continue of course.
Comet are not going bust, it's just their sales are down quite a lot I think. |
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#7 |
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Forum Member
Join Date: Mar 2011
Location: Hertfordshire
Posts: 2,938
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Quote:
Do you have a source for this info about Richer Sounds?
5 Year Supercare & 5 Year TV Guarantee are exclusive Richer Sounds offers and are operated and financially backed by Richer Sounds PLC. The Financial Services Compensation scheme does not apply to this warranty and monies are not ring-fenced from Richer Sounds plc. |
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#8 |
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Forum Member
Join Date: Apr 2006
Location: North Derbyshire
Posts: 41,794
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Quote:
Do you have a source for this info about Richer Sounds?
Quote:
If they don't insure their extended warranties are they the only company to not do so? If not then why mention them specifically. As far as I'm aware the Comet scheme 'should' be insurance backed, it's certainly never been mentioned that it's not (unlike RS). |
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#9 |
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Forum Member
Join Date: May 2009
Location: Edinburgh
Posts: 9,468
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Quote:
as far as I was aware after a very highly publicised failure a number of years ago, all such schemes were supposed to be insurance backed. Presumably this isn't the case?
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#10 |
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Forum Member
Join Date: Mar 2008
Location: TheEssexSunshineCoast Clacton
Posts: 15,223
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We used to have a Comet in Clacton but it closed down last year.
The nearest one is now over 18 miles away. All we have now is a Currys and an Argos here as well as a tiny Hughes which is not that great. |
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#11 |
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Join Date: Jan 2008
Location: London (East)
Posts: 1,694
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Quote:
We used to have a Comet in Clacton but it closed down last year.
The nearest one is now over 18 miles away. All we have now is a Currys and an Argos here as well as a tiny Hughes which is not that great. |
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#12 |
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Join Date: Mar 2004
Posts: 1,904
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Quote:
It isn't the case. It may be an added selling point that a warranty is insurance-backed, but there's no legal requirement for it to be so.
RS aren't slow to highlight the low cost of their warranties, I suspect they are slightly less keen to highlight HOW they've been made less expensive (although it is on the website). The problem, which Nigel Goodwin has correctly pointed out, is that a few years ago, in quick succession there were the failures of Tempo, Tiny and Time. All had sold extended warranties, none were underwritten leaving customers out of pocket. Whilst DSG often get criticised on these boards, to give them credit, as far back as 1988 their extended warranties WERE insurance backed. Had the company failed for any reason the customers would still have been covered. |
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#13 |
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Forum Member
Join Date: Jun 2003
Location: Cheshire
Posts: 6,462
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John Lewis is another company offering an in-house warranty scheme.
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#14 |
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Forum Member
Join Date: Mar 2004
Posts: 1,904
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Quote:
John Lewis is another company offering an in-house warranty scheme.
http://www.johnlewis.com/jl_assets/p...ranties_07.pdf |
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#15 |
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Join Date: Jan 2004
Location: The Sticks
Posts: 3,720
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I don't think I've ever taken an extended warranty, unless it was a free one offered by the store. It's usual they write to me about 11 months after my purchase to offer one too.
It would be a shame if Comet closed stores, but I've only bought from them online in recent years anyway. It's difficult to justify a store where they can't staff it with knowledgable people or compete with online prices. By comparison, Richer Sounds and John Lewis staff usually know a lot about the products they sell in stores. |
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#16 |
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Forum Member
Join Date: Nov 2008
Posts: 28
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Hi Nigel, all,
As I have previously confirmed on this forum, our extended warranties are 100% operated and financially backed by Richer Sounds PLC. We feel this works to our customers' benefit, enabling us to offer a much better deal by financing the warranty ourselves. This has been the case for the many years we have been offering extended warranties to our customers. We do make our position clear on our website, for more information please see the following link: http://www.richersounds.com/information/warranties Whilst nothing is certain in life, I feel I should point out that we have been successfully trading for thirty three years and are in a strong financial position for the future! Many thanks, John Clayton Operations Director Richer Sounds |
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#17 |
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Forum Member
Join Date: Feb 2011
Location: Manchester, UK
Posts: 37
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I think it's been a long time coming this.
I can't say anything about other stores but my local store whenever I go in it looks like a jumble sale and the staff don't seem to be interested in helping customers as they're too busy standing around talking to their mates. And if you do dare to go up and ask them something you can almost guarantee they won't have a clue. |
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#18 |
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Forum Member
Join Date: Mar 2005
Posts: 6,572
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Good news if Best Buy comes to our local area.....
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#19 |
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Forum Member
Join Date: Jan 2006
Posts: 904
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Less competition is rarely a good thing, but Comet haven't exactly been competitive on price or service for many years.
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#20 |
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Forum Member
Join Date: Feb 2005
Location: DAVEVILLE, Daveshire DA1 1VE
Posts: 33,621
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Quote:
Less competition is rarely a good thing, but Comet haven't exactly been competitive on price or service for many years.
In the past Comet were very competitive on their pricing, and usually cheaper than most other places, but that doesn't appear to have been the case for a number of years now. Still, it would be sad if they pulled out of the UK, another well known name gone and substantial job losses if they can't find a buyer. |
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#21 |
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Join Date: Dec 2008
Location: East Midlands
Posts: 5,204
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Here in my patch, we've got Comet on the same site as Best Buy, Currys/PC World store and soon Argos.
Too much competition? |
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#22 |
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Forum Member
Join Date: Mar 2004
Posts: 1,904
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Quote:
Hi Nigel, all,
As I have previously confirmed on this forum, our extended warranties are 100% operated and financially backed by Richer Sounds PLC. We feel this works to our customers' benefit, enabling us to offer a much better deal by financing the warranty ourselves. This has been the case for the many years we have been offering extended warranties to our customers. We do make our position clear on our website, for more information please see the following link: http://www.richersounds.com/information/warranties Whilst nothing is certain in life, I feel I should point out that we have been successfully trading for thirty three years and are in a strong financial position for the future! Many thanks, John Clayton Operations Director Richer Sounds The Co-op traded on the high street for many years before disappearing from virtually all high streets. If Comet disappear in the next couple of years they'll be just short of their 80th birthday. Longevity on the high street, frankly, means absolutely nothing in terms of the financial health of the company - perhaps if RS posted their financial results on their website that would provide more confidence in this particular scheme? |
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#23 |
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Forum Member
Join Date: Jun 2002
Location: Scotland, Dunfermline Area
Posts: 10,705
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Dont sound to good as 60% of my electrical goods in the house have been bought from Comet.
Darren |
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#24 |
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Forum Member
Join Date: Jan 2011
Posts: 3,771
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Quote:
http://www.techradar.com/news/world-...treets--956178
If this goes ahead what will happen to the Guarantees if you buy something and they close before it expires. |
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#25 |
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Forum Member
Join Date: Mar 2005
Posts: 6,572
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High street competition rarely exists now for the bigger nationals. It's about competing as best they can with on line retailers.
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