Woolworths to shut up shop permanently, says Deloitte

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.

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