Woolworth`s Launches Sale

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TeamPlayer

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Troubled retailer Woolworths, which crushed under its debt last month, has launched what its administrators have called the group's "biggest ever sale".

Discounts of up to 50% have been offered on toys and greeting cards, with prices for entertainment goods also being reduced across all ranges.

Retail analyst Nick Bubb said the move "looked like a closing down sale".
Also on Friday, the administrators announced 450 job cuts in support operations in London and Rochdale.

There have not yet been any job cuts in shops or distribution centres.
Administrators said they expected the stores to remain open after Christmas and that the sale was "ongoing".

"There is continuing interest in the core Woolworths business and the sale will continue whilst potential buyers finalise their plans for the purchase of the business," said Neville Kahn, joint administrator at Deloitte.

Extra staff had been hired to cope with demand, he added.

But Mr Bubb, an analyst with stockbrokers Pali International, said the company was "trying to get rid of unsold stock and to empty shops".


BBCNews
 

HaveIt

White Belt
I think the game is over for them sadly

It saddens me to say this because I was brought up on Wooly's and I always remember the pick'n'mix sweets counter, always nicked a couple while my gran was choosing haha

HaveIt ;)
 

Webmasterserve

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Administrator
Yes, I think its over for woolies as well, I am partly sad to see them go but I really don't shop there, I think they sell crap mostly, but when I am broke, I tend to go there and buy some cheap crap that fill gap till I have money to buy some high quality replacement.
 

odls

Yellow Belt
I called in Woolies yesterday to see if I could get a couple of items. They didn't have them though. Many of the shelves were bare.

It was interesting to see that they were even trying to sell all their fixtures and fittings. What a sad end!
 

Webmasterserve

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Administrator
Apparently Zavvi (formerly Virgin Mega Stores) has gone into administration as well. A few more music related groups are expected to go belly up in the next few weeks :(
 

Webmasterserve

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Administrator
But they should have jumped in when downloads arrive, they will just transfer the name they have made on the high street to the web.

That is what happens to a company that does not move with times
 

TeamPlayer

Yellow Belt
I think the record industry over here in the UK was too greedy.

At one time cd's were way higher than the same ones in the US. Yes, part of that might have been down to the lower sales tax in the US, but even so we were paying ridiculous prices.

No wonder people looked for something cheaper, ie downloads. Now, prices of cds have fallen quite a lot here, but I fear it's happened a bit too late.
 
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