EUK heading into administration

According to the


, Woolworths and EUK have gone into administration, with an official announcement expected tomorrow morning.

The Woolworths board met up this evening to make the decision, with Deloitte to be appointed administrators to both EUK and the High Street chain.

Business secretary Peter Mandelson has been in contact with the firm to ensure that it went into administration in order to ‘minimise the anxiety’ for its employees.

BBC is also reporting that Woolworth’s joint venture with BBC Worldwide, 2 Entertain, willremain solventas it is owned by the chain’s parent company.

About MCV Staff

Check Also

Ubisoft employees condemn the industry’s “culture of abuse” in open letter, accuse Yves Guillemot of “sidelining” their demands

"Ubisoft continues to protect and promote known offenders and their allies"