Question

To ask the Secretary of State for Business, Innovation and Skills, what estimate he has made of the cost to the public purse of the collapse of Comet arising from (a) former employees' redundancy payments, (b) payments to the administrator for its fees and (c) payments to the administrator for creditors.

The Insolvency Service's Redundancy Payments Services have paid £12,767,464.67 in respect of statutory redundancy payments, and a total of £18,482,220 so far for all statutory entitlements to 4,838 former employees of Comet Group Plc.

Payments of fees to the administrators and in respect to any distribution to the general body of creditors are not made from the public purse. These come out of funds within the insolvency estate from the realisation of the company's assets.