Woolworths administrator Deloitte has revealed that the retailer will start slashing prices on products by over 60 per cent in the lead-up to the New Year.
The firm's Neville Kahn today revealed that over 50 million new stock items – including entertainment and toys – were being shipped into stores this week to prepare for the monster closing down” sale.
Deloitte revealed earlier today that all Woolworths stores would close by January 5th next year – so long as a deal wasn't reached with a potential bidder.
Of the sale, Kahn said:
As we get closr to closure, our upper discount range will increase. You will see countdowns signage on the stores so people will know when individual stores are closing.”
When pressed on how high the discounting would get, Kahn said it would definitely” be over 60 per cent on some items.