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27/11/2008
Woolworths Enters Administration
High Street retailer Woolworths has entered administration, leaving thousands of jobs at risk.
The chain, which has 815 stores in the UK and employs around 30,000 staff, had been struggling with debts totalling £385 million.
A statement issued by Woolworths Group confirmed that Woolworths and the Entertainment UK wholesale business could no longer be operated as a going concern. However, the statement also said that Woolworths Group is not in administration and remained in discussions with BBC Worldwide regarding the possible sale of its 40% interest in publishing venture 2 Entertain.
Adminstrators Deloitte said that the company's retail stores would remain open until after Christmas and employees in stores would be paid.
The firm also said that there had been "expressions of interest" for both the retail stores and the Entertainment UK business.
The shopworkers' union, Usdaw, described the news as "devastating". John Gorle, Usdaw National Officer, said: "We will be seeking urgent talks with the administrators to ensure that our members' future is at the top of their agenda and to understand the proposals for the businesses in the short to medium term.
"Obviously, the ongoing uncertainty surrounding the future of the stores will be of great concern to employees, so we will do everything we can to help communicate the situation to the staff as the situation unfolds.
"Many of the staff have served the companies for many years and are extremely dedicated and loyal and we will be doing everything we can to help them through this difficult time."
Prime Minister Gordon Brown stressed that the government is working to ensure that Woolworth stores remained open over Christmas, saying that arrangements had been discussed to ensure that employees would receive their wages and that those threatened with redundancy would be helped to find alternative employment.
Meanwhile, furniture retailer MFI has also gone into administration. The company is continuing to operate at present and stores will remain open, although only display stock will be sold.
(KMcA)
The chain, which has 815 stores in the UK and employs around 30,000 staff, had been struggling with debts totalling £385 million.
A statement issued by Woolworths Group confirmed that Woolworths and the Entertainment UK wholesale business could no longer be operated as a going concern. However, the statement also said that Woolworths Group is not in administration and remained in discussions with BBC Worldwide regarding the possible sale of its 40% interest in publishing venture 2 Entertain.
Adminstrators Deloitte said that the company's retail stores would remain open until after Christmas and employees in stores would be paid.
The firm also said that there had been "expressions of interest" for both the retail stores and the Entertainment UK business.
The shopworkers' union, Usdaw, described the news as "devastating". John Gorle, Usdaw National Officer, said: "We will be seeking urgent talks with the administrators to ensure that our members' future is at the top of their agenda and to understand the proposals for the businesses in the short to medium term.
"Obviously, the ongoing uncertainty surrounding the future of the stores will be of great concern to employees, so we will do everything we can to help communicate the situation to the staff as the situation unfolds.
"Many of the staff have served the companies for many years and are extremely dedicated and loyal and we will be doing everything we can to help them through this difficult time."
Prime Minister Gordon Brown stressed that the government is working to ensure that Woolworth stores remained open over Christmas, saying that arrangements had been discussed to ensure that employees would receive their wages and that those threatened with redundancy would be helped to find alternative employment.
Meanwhile, furniture retailer MFI has also gone into administration. The company is continuing to operate at present and stores will remain open, although only display stock will be sold.
(KMcA)
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01 February 2008
Woolworths Drops Lolita Bed For Girls
Woolworths has been forced to withdraw a range of bedroom furniture for young girls. The advertisement for the £395 Lolita Midsleeper Combi sparked a flood of complaints from parents who forced the move. ‘Lolita’, the title of Vladimir Nabokov's 1955 novel about a 12-year-old temptress, has become a byword for a sexually precocious young girl.
Woolworths Drops Lolita Bed For Girls
Woolworths has been forced to withdraw a range of bedroom furniture for young girls. The advertisement for the £395 Lolita Midsleeper Combi sparked a flood of complaints from parents who forced the move. ‘Lolita’, the title of Vladimir Nabokov's 1955 novel about a 12-year-old temptress, has become a byword for a sexually precocious young girl.
05 December 2008
Woolies Launches 'Biggest' Sale, As Search For Buyer Continues
Troubled high street retailer Woolworths is to hold its "biggest ever" sale, as the search for a buyer for the chain continues. Administrator Deloitte said it would slash up to 50% off goods - including toys and greetings cards - in an attempt to clear shelves as it remains in talks with potential buyers.
Woolies Launches 'Biggest' Sale, As Search For Buyer Continues
Troubled high street retailer Woolworths is to hold its "biggest ever" sale, as the search for a buyer for the chain continues. Administrator Deloitte said it would slash up to 50% off goods - including toys and greetings cards - in an attempt to clear shelves as it remains in talks with potential buyers.
29 October 2013
Blockbuster Enters Administration For Second Time
Blockbuster has entered administration for a second time, owners of the DVD and games rental chain have announced. The chain collapsed in January, blaming a lose of business to online streaming and rental businesses. In March, the firm's 528 stores were sold to Gordon Brothers Europe, who today announced that it has again entered administration.
Blockbuster Enters Administration For Second Time
Blockbuster has entered administration for a second time, owners of the DVD and games rental chain have announced. The chain collapsed in January, blaming a lose of business to online streaming and rental businesses. In March, the firm's 528 stores were sold to Gordon Brothers Europe, who today announced that it has again entered administration.
10 December 2008
Former DIY Boss In Woolworths Bid
The former Chief Executive of Kingfisher has made a bid for 500 stores owned by ailing retailer Woolworths, it has been reported. The Sun newspaper claims Geoff Mulcahy is prepared to step-up and attempt to save some of the 25,000 jobs at risk.
Former DIY Boss In Woolworths Bid
The former Chief Executive of Kingfisher has made a bid for 500 stores owned by ailing retailer Woolworths, it has been reported. The Sun newspaper claims Geoff Mulcahy is prepared to step-up and attempt to save some of the 25,000 jobs at risk.
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