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The administator in charge of Woolworths has revealed that over 500 suppliers to Woolworths and EUK – including many games publishers – stand to lose money on products sold into both companies. However, joint administrator of Woolworths at Deloitte Neville Kahn said that EUK’s warehouses – which still hold millions …
Read More »Official: Woolies to close in 19 days
The death knell has rung for Woolworths – with administrators Deloitte confirming that all 807 remaining stores will be closed down by January 5th. The first stores will close on December 27th – and in more sad news for the firm, all 27,000 permanent and temporary staff will lose their …
Read More »Zavvi protects cash from administrator
Zavvi has reportedly opened a separate bank account to deposit takings from shoppers who have bought store vouchers. Zavvi believes that the funds will be protected from an administrator if it is forced to cease trading. EUK, the distribution division of Woolworths, is believed to be owed about 100m by …
Read More »EUK: Deloitte to scale down sale efforts
Deloitte, the administrator handling the closure of Woolworths and distribution arm EUK, has confirmed that it is to step down its efforts to try and find a buyer for the distributor. It also confirmed MCV’s earlier report that 700 staff were this morning made redundant, and that a skeleton staff …
Read More »EUK: Mass redundancies announced
MCV understands that workers at the Woolworths-owned distributor EUK have this morning been told that today is their last day in employment, following administrator Deloitte’s failure to find a buyer for the company. It is understood that around 90 per cent of the workforce has been made redundant after a …
Read More »WOOLWORTHS: UK games market will face more casualties
Today’s closing down sale represents what is probably the last hurrah for the UK’s celebrated Woolworths brand – but top retail figures in the UK games industry have warned that there’s still bad news to come. Take someone like Woolies out of the retail equation and you’re looking at a …
Read More »Nintendo clarifies EUK debt
As Woolworths’ closing down sale gets underway today, leading platform holder Nintendo has spoken exclusively to MCV regarding claims in UK newspaper The Sun about the amount of debt owed to platform holders by the Woolworths-owned EUK. The tabloid yesterday claimed that EUK is expected to go into liquidation within …
Read More »Tesco launches half-price sale
Tesco will tomorrow launch a half-price sale that will last throughout Christmas – but has told MCV that the promotion is not in reaction to Woolworths’ ‘fire sale’ . The firm will cut prices on around 1,000 products from now until Christmas – including non-food. The focus is firmly on …
Read More »WOOLIES UPDATE: Closing down sale begins tomorrow
The Joint Administrators to Woolworths have today announced that a store closing sale will begin in stores on Thursday December 11th. The Administrators continue to actively seek buyers for the Woolworths assets and negotiations with a number of interested parties are ongoing. Neville Kahn, reorganisation services partner at Deloitte, commented: …
Read More »Woolworths to close down within days?
Woolworths could be facing its last few days on UK High Street with reports that administrator Deloitte has failed to find a buyer for the struggling retailer. RetailWeek speculates that the chain’s entire workforce, which totals around 30,000, are facing redundancy. Details of the national closing down sale are expected …
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