The owner of PC World and Currys benefited from the demise of rival Comet today by reporting a bigger-than-expected surge in Christmas sales.

Bosses at stricken retail chain HMV today said they were “convinced” they can secure a future for the business despite collapsing into administration after poor Christmas sales.

HMV shares have been suspended from trading on the London Stock Exchange, with the news that the company has appointed administrators.

Uncertainty caused by tonight's US fiscal cliff deadline quashed any celebrations over a near 6% jump for the FTSE 100 Index over 2012.

The boss of Dixons Retail today said the Currys and PC World owner was poised to take advantage of the demise of rival Comet.

Comet appeared to enter its final death throes today as administrators announced 125 store closures in a move expected to trigger around 3,000 job losses.

The entrepreneur behind Appliances Online has tabled a bid for Comet in a move that could see the failed electrical chain disappear from retail parks and high streets.

Around 6,500 UK retail jobs were under threat today as electricals chain Comet became the latest casualty on the high street.

The owner of PC World and Currys offered some cheer from the embattled sector today as it posted a 15% hike in UK & Ireland profits after a rebound in sales.

More than 3,000 jobs are expected to be saved by a deal to rescue part of struggling retailer Game Group by a turn-around investment firm in a boost for the high street.

It has just been announced that 231 Irish jobs are to be axed at retailer Game.

Lenders of stricken Game Group are working on plans to buy the slimmed-down retailer out of administration, it was reported today.

Retailer Game conceded defeat in its survival battle yesterday after failing to raise new funding, jeopardising 125 jobs in Ireland.

Retailer Game conceded defeat in its survival battle today after failing to raise new funding, adding to fears that dozens of Irish jobs could be in danger.

Fears for the future of retailer Game intensified today after its shares were suspended and it admitted the business has no value.

The future of struggling retailer Game was looking less bleak tonight as the group confirmed a third party has shown interest in providing it with extra support.

Currys and PC World owner Dixons Retail rose above the troubles of rivals Comet and Best Buy today by posting an improved UK performance.

Struggling UK electricals chain Comet was today sold for a token £2 (€2.33) after its owner Kesa Electricals called time on the loss-making business.

The owner of British electrical goods retailer Comet today revealed a 22% plunge in sales as consumer confidence fell to a "low ebb" across the UK.ealed a 22% plunge in sales as consumer confidence fell to a "low ebb" across the UK.

The boss of struggling entertainment group HMV today vowed to press on with plans to overhaul its technology offering as he reported another plunge in sales over the summer.

The former owners of MFI and a former executive of Kingfisher are among those to have expressed an interest in Comet, the UK electrical retailer that was recently put up for sale, it was reported today.

Inflation in the UK unexpectedly fell last month as retailers cut prices in response to the tightening squeeze on household incomes, figures revealed today.

WOMEN’S fashion firm Jane Norman fell into administration yesterday in a move which could put up to 1,600 jobs at risk.

Women's fashion firm Jane Norman fell into administration today in a move which could put up to 1,600 UK jobs at risk.

The future of up to 30 stores and 720 jobs was put at risk today after the UK side of retail brand Habitat went into administration.

Habitat is set to disappear from everywhere but London in a move threatening around 900 jobs in the UK.

Dixons Retail posted a fall in profits today as the PC World and Currys owner joined rival Comet in counting the cost of gruelling trading conditions.

Further evidence of a decline in electrical goods sales emerged today with lightbulbs-to-TV firm Philips warning on profits amid worse-than-expected demand in western Europe.

Mothercare today dealt a fresh blow to the UK high street as it unveiled plans to close 110 outlets and focus on out-of-town superstores.

Aggreko led the FTSE 100 Index further above the 6000 level today after it was lifted by a deal to supply power to the firm that ran the crippled Fukushima power plant.

The London market was kept afloat by mining giants today after the owner of Currys and PC World issued a profits warning triggering declines among retailers.

A profits warning from Currys and PC World parent Dixons Retail triggered declines for retailers today, but the news failed to drag the wider market down.

Comet parent company Kesa Electricals today warned of a full-year loss for its UK operation after festive sales plunged 7.3%.

Takeover talk surrounding a raft of blue chip stocks was not enough to offset the impact of a stronger dollar on commodity shares today as the London market edged lower.

The FTSE 100 Index failed to make headway today as a surprise fall in retail sales weighed on sentiment.

The UK retail sector's recent rally was knocked off course today after the Office for National Statistics reported an unexpected fall in sales last month.

The FTSE 100 Index lost ground for the second session in a row today after US home sales plunged to a record low during May.

The first 3D television sets went on sale on the high street today.

MODEL Katie Price and new husband Alex Reid have been questioned about a row over a disabled parking space, police said.

The FTSE 100 Index was in the red today as possible Chinese lending curbs weighed on sentiment ahead of the latest round of US banking results.

The FTSE 100 Index slid almost 2% into the red today as the spectre of US interest rate hikes overshadowed trading.

Better news from the UK jobs market and a strong session for financial stocks ensured the London market remained in positive territory today.

Fears over Dubai’s ability to pay its debts overshadowed trading for a second successive session today in a nervous end to a volatile week.

AN alert text service to warn teachers of the presence of paedophiles in and around their schools is to be set up in Cork.