Comet store in Hendon, north London
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Taxpayers to pick up £50m Comet losses

17 December 2012 Last updated at 18:44 GMT

The collapse of the electrical retailer Comet has left taxpayers possibly having to pick up losses of up to £50m - half of which would fund redundancy payments.

Administrators winding down the company have said there is insufficient money to make the payouts to Comet's 6,500 employees.

Emma Simpson reports.