Stores will begin to shut down from Dec 27, where 27,000 workers will eventually be made redundant, unless a buyer is found. “Obviously if we have a sale of business between now and then, there's a prospect for those stores to remain open,” said administration partner Neville Kahn.
Kahn adds that interest in the group is still being shown, with 300 key store locations being sought by a group of UK retailers, yet a buyer to save the business remains elusive.
For many observers, the end of Woolworths was imminent. Only a week ago the retailer launched a closure sale, while the group’s administrators began talking about redundancy relief.
Woolworths fell into administration late in November as the group collapsed under its £385 million debt. 2009 would have marked the hundredth year of business for the company.