Nov 27
Woolworths, home to all kinds of home products, consumer technology, toys and gadgets, has officially gone into administration, putting 30,000 jobs on the line and becoming the biggest High St. casualty of the recession so far.
The group said it has entered administration following its failure to secure the sale of its 800 stores to restructuring company, Hilco. Although stores opened across the UK today, the fate of Woolies’ 30,000-strong workforce remains unknown.
In a statement, the company’s board said:
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