Woolworths go's The Way of the Titanic.
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- Katanajon
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http://news.bbc.co.uk/2/hi/business/7787904.stm
Woolworths to close in JanuaryWoolworths branch
Woolworths went into administration last month
Administrators at Woolworths say that all 807 stores will close by 5 January.
The first shops will shut on 27 December and all 27,000 permanent and temporary staff will lose their jobs if no last-minute buyer is found.
The administrators said there was still interest in parts of the business but admitted they had "not come close" to finding a buyer for the firm.
A range of food, clothes and "value retailers" have made offers to take over the leases at about 300 stores.
And efforts would be made to put Woolworths staff who were losing their jobs in contact with these potential employers, the administrators Deloitte said.
Deloitte's Neville Kahn said it was unclear how much of its debts would be paid, but added it was "clear that the creditors and suppliers will not get paid in full".
This marks and end of an era. Too bad most of the Giants seem to be falling. Back to the country market and Ox drawn carts I suppose.
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- Change, Wow, BYE BYE, Setting Example, 3 more
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Nancyf
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IT is an end of an era....praise GOD! GOD doesn't close one door without opening another.
- 4 years ago
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Nancyf
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