End of road for Woolies

Published on Monday 22 December 2008 20:18

WOOLWORTHS' final two weeks on Britain's high streets were mapped out last night as administrators released a schedule of closures for the failed retailer.

Monday 5 January will mark the last time that the Woolworths brand will trade from its more than 800 stores under the wind-up being led by administrators Deloitte.

Woolies, which launched in the UK almost a century ago, will begin shutting its doors on 27 December, with around 200 due for closure at sites including Aberdeen, Dundee, Kirkwall and Corstorphine in Edinburgh. Administrators had confirmed last week that all Woolworths stores would close, at the cost of 27,000 jobs.

There were also reports of further troubles for Woolworths as it negotiates with BBC Worldwide over the sale of the chain's stake in their joint venture 2 Entertain.

It was reported that BBC Worldwide – the commercial arm of the BBC – has slashed the amount it is prepared to pay for 2 Entertain, which publishes DVDs and CDs. Woolworths yesterday said that terms had yet to be agreed, but assured that talks were ongoing.