The death knell for historic retailer Woolworths was sounded as administrators confirmed all its stores would close by January 5, at the likely cost of 27,000 jobs.
All Woolworths' stores will shut by January 5, administrators confirmed Woolworths, which has been a feature of Britain's high streets for almost a century, will begin shutting its doors on December 27, when the first 206 of its 807 stores will close.
Administrators Deloitte said this would be followed by another batch of 200 on December 30, 200 on January 2 and the final closures by January 5.
Apparently Woolies intend to clear 500 million more items of stock with cuts of up to 60%.
It makes one wonder..500 million items sold at say an average price of £3 would raise sufficient capital to repay their £385 m debt and still leave some change
