Woolworths calls in administrators |
| Thursday, 27 November 2008 | |
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Woolworths has called in the administrators after it said it could no longer operate as a going concern, meaning 25,000 jobs have been placed at risk. Administrator Deloitte said that there has been a sufficient amount of interest for the company, despite its £385m debt. Woolworths Group is not in administration and is still in discussions with BBC Worldwide about the sale of publisher 2 entertain. But EUK, which is also part of the Woolworths Group, has also gone into administration, meaning supplies of CDs and DVDs to supermarkets - such as Asda and Morrisons - could be threatened. Deloitte said that Woolworths will stay open past Christmas and that staff will continue to be paid. Dan Butters, who works for the company, said: "In the last 24 hours, we have received expressions of interest from a number of parties for both the retail and wholesale businesses." This week shares in the company were suspended. Sources had also said that supermarket supplies could be threatened if EUK fell into administration. Related Articles
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