Nottinghamshire County Council’s Trading Standards are advising local residents with Comet gift vouchers to spend them as quickly as possible.
The electrical chain has confirmed plans for the company to be placed into administration next week.
Trading Standards Officer Sarah Ridley said: “There's no guarantee the administrators will honour gift vouchers so we are encouraging residents with Comet gift vouchers to act quickly and spend them while they can.
“People can avoid the small risk of being left out of pocket with gift vouchers by buying High Street Vouchers which can be spent in hundreds of stores.”
The Citizen’s Advice consumer service can offer advice on consumer issues on 08454 04 05 06.
People can find out more about High Street Vouchers by calling 0845 717 1111 or visiting www.highstreetvouchers.com