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05/12/2008
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. Prices for entertainment goods in store are also to be reduced.
Deloitte said they were continuing talks with a number of parties interested in buying Woolworths.
Joint administrator, Neville Kahn, said: "We will launch Woolworths' Biggest Ever Sale with discounts of up to 50% on all goods, except concessions.
"We anticipate increased footfall in the stores and have hired additional staff to cope with increased demand. Additional goods have been moved to all stores and further stock will be added in the coming days.
He added: "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."
One potential buyer for the retailer, Theo Paphitis, announced he was pulling out of his proposals.
The Dragon's Den entrepreneur, and owner of stationery chain Ryman, said he could not agree a deal with Deloitte.
"It is with disappointment that I confirm we could not reach a deal," he said.
"My vision was that we could retain the Woolworths brand name through purchasing a large share of the existing retail business... Unfortunately, the constituent parts of Woolworths are more valuable than the whole."
It has been reported Sainsbury's, Tesco, Asda, discount chain Poundland and the Co-op have shown interest in picking up some of the retailers stores.
The administrators have also announced 450 support operations jobs will be cut at Marylebone Road in London and Castleton in Rochdale.
The company employs more than 25,000 people, but no jobs in its stores or distribution centres have gone.
(JM)
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. Prices for entertainment goods in store are also to be reduced.
Deloitte said they were continuing talks with a number of parties interested in buying Woolworths.
Joint administrator, Neville Kahn, said: "We will launch Woolworths' Biggest Ever Sale with discounts of up to 50% on all goods, except concessions.
"We anticipate increased footfall in the stores and have hired additional staff to cope with increased demand. Additional goods have been moved to all stores and further stock will be added in the coming days.
He added: "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."
One potential buyer for the retailer, Theo Paphitis, announced he was pulling out of his proposals.
The Dragon's Den entrepreneur, and owner of stationery chain Ryman, said he could not agree a deal with Deloitte.
"It is with disappointment that I confirm we could not reach a deal," he said.
"My vision was that we could retain the Woolworths brand name through purchasing a large share of the existing retail business... Unfortunately, the constituent parts of Woolworths are more valuable than the whole."
It has been reported Sainsbury's, Tesco, Asda, discount chain Poundland and the Co-op have shown interest in picking up some of the retailers stores.
The administrators have also announced 450 support operations jobs will be cut at Marylebone Road in London and Castleton in Rochdale.
The company employs more than 25,000 people, but no jobs in its stores or distribution centres have gone.
(JM)
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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.
21 September 2007
Man Slits Own Throat In Woolworths
A man has died after slitting his throat with a Stanley knife in a Woolworths store in Cornwall. The incident happened in the store in Penzance shortly after 3pm on Thursday. The man, believed to be in his twenties, entered the store and began slashing himself with a knife.
Man Slits Own Throat In Woolworths
A man has died after slitting his throat with a Stanley knife in a Woolworths store in Cornwall. The incident happened in the store in Penzance shortly after 3pm on Thursday. The man, believed to be in his twenties, entered the store and began slashing himself with a knife.
27 November 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.
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.
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.
11 December 2008
Closing Down Sale For Troubled Woolies
Troubled retailer Woolworths is to begin a closing down sale today as administrators said they could not find a buyer for the chain. Up to 25,000 jobs are now at risk as Deloitte warned some of the company's 813 stores could close before the end of December, as they have so far failed to find a buyer for the struggling firm.
Closing Down Sale For Troubled Woolies
Troubled retailer Woolworths is to begin a closing down sale today as administrators said they could not find a buyer for the chain. Up to 25,000 jobs are now at risk as Deloitte warned some of the company's 813 stores could close before the end of December, as they have so far failed to find a buyer for the struggling firm.
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