Tuesday, 6 January 2009

Extra day for Woolworths to sell off stock before closure

STAFF in the Minehead branch of Woolworths have been given a 24-hour reprieve on the store’s closure.
The shop, where prices have been slashed to mere pennies during a closing down sale, was last night due to be among the final 200 to close their doors to the public for the last time.
But administrators Deloitte said it was allowing the stores to remain open for an extra day in an effort to sell off the last of its stock - and even fixtures and fittings if people would buy them.
Deloitte said the additional day’s trading would also allow more time to make ‘final arrangements’ for winding up the business.
Woolworths went into administration in November with debts of £385 million and efforts by Deloitte to find a buyer came to nothing.
More than half of the 807 stores nationwide have already closed, and the Minehead store is in the final batch to be shut.
Woolworths, which has nearly 30 staff in Minehead, first opened in the town in 1937.
All 27,000 remaining Woolworths employees nationwide will be made redundant after the closures.
Deloitte has been in talks with other retail chains with a view to selling the leases on some of the Woolworths premises, and rumours have surfaced in Minehead of a clothing company showing an interest in the store once it has shut.

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