Either way, I was under the impression that Comet was on the verge of failure but that might be misinformation, if correct could this be the tipping point?
Long and short of it as above, they were screwed - but a consortium was put together to keep them afloat.
Unfortunatly the bullet they appear to have dodged will still be taking down a good number of smaller retailers (and maybe some larger ones) over the next few months - loads of them were depending on a good xmas trading period to see them through rent, etc. early this year.