UPDATED: Future of Comet store in Scunthorpe unclear
Comet will be placed in administration next week, the company has confirmed.
The 240-strong chain, which was founded in Hull in 1933, this morning informed staff at its Hull business centre of the news.
Around 6,500 jobs are now under threat.
Restructuring specialist Deloitte has been lined up to handle the administration
The company has suffered falling sales and pressure from suppliers.
It has 200 stores across the country, including one on Scunthorpe's Lakeside Retail Park which was open for business today.