Administrators from Deloitte have announced that all 807 Woolworths outlets
will close by 5 January after their efforts to sell the business as a going
concern proved unsuccessful.
At a press conference this afternoon, Deloitte cited a lack of available
finance for prospective bidders to restock the shelves of the ailing store as a
major stumbling block to trading it on.
27,000 permanent and temporary staff who worked in the retail and
distribution arms will be out of a job at the start of the New Year.
The stores will be shut down in groups of 200 stores a day on December 27 and
30 as well as January 2 and 5,
Bidders are still looking to snap up 300 of the stores, Deloitte added.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children