Tag Archives: woolworths

GameStop denies Woolies stores bid

GameStop has denied an MCV report that claimed the company was in the process of tabling a bid for Woolworths’ stores. The news comes after a highly-placed source informed MCV that the company was interested in buying around half of Woolworths’ oustanding 800 outlets from administrator Deloitte. If GameStop was …

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Theo Paphitis pulls out of Woolworths deal

Theo Paphitis has pulled out of the running to buy parts of High Street chain Woolworths, which is on the brink of collapse, reports The Press Association . Phaphitis, who has become famous due to his role on the Dragons’ Den television show, had hoped to retain the Woolworths brand …

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Woolies to slash ALL prices by up to 50% tomorrow

Woolworths administrator Deloitte has told MCV that the retailer will launch its ‘Biggest Ever Sale’ tomorrow – with discounts of up to 50% on all goods. Deloitte said in a statement: ‘We anticipate increased footfall in the stores and have hired additional staff to cope with increased demand. Additional goods …

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Now GameStop eyes Woolies stores

US games retail giant GameStop has tabled a bid for around half of Woolworths’ 815 stores, MCV understands. If accepted, that would immediately make the firm the UK’s biggest specialist chain – eclipsing GAME’s 397 stores. However, the Basingstoke-based retailer also owns 51 concessions – and, of course, 253 Gamestation …

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Zavvi buys direct as it cancels orders

Zavvi is the latest retailer to set up a direct buying relationship with entertainment suppliers – following EUK’s decline into administration last week. EUK previously bought and supplied products for Asda, Zavvi, Sainsbury’s, WH Smith, Morrisons and Woolworths. However, since parent company Woolworths pulled it into administration last week, relationships …

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Theo Paphitis in for Woolies?

Dragon’s Den star Theo Paphitis is reportedly among a number of potential buyers ready to buy chunks of Woolworths. Several meetings have taken place between interested parties and Woolworths’ administrators, Deloitte, since the retailer went into administration last week. Pahpitis is thought to be interested in a number of Woolworths’ …

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Asda makes move to buy direct

Asda has confirmed to MCV that it has started buying stock directly from entertainment suppliers – to avoid a Christmas stock crisis in the wake of EUK’s demise. MCV understands that the firm still had six months left on a contract with EUK when the firm fell into administraion yesterday. …

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EUK heading into administration

According to the BBC , 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 …

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Woolworths headed for insolvency?

Woolworths is ‘a few desperate hours of negotiation’ away from administration. That’s according to The Times, which quotes sources saying ‘administration is the most likely option as the retailer scrabbles to find sufficient funds to pay its monthly wage bill’. However MCV can confirm that the chain’s games buying team …

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Woolworths shares suspended

Trading in the shares of the Woolworths Group has been suspended on the London Stock Exchange. The company said trading would resume once it had announced whether it would be selling its BBC show distribution service and its chain of retail stores. In a statement, the firm’s Board also confirmed …

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