Summary
THE failure to secure a buyer for Woolworths - barring an 11th- hour deal - marks the final chapter in the painful demise of a high- street icon.
Administrators at Deloitte have already axed 450 support staff at the 99-year-old retailer, but tens of thousands more are set to follow as the closing-down sale begins. Woolworths was already slashing up to 50% off stock last week in an attempt to keep the business going and generate cash for creditors.See the full content of this document
Extract
Sad Demise of High-Street Icon
Talks were held with potential buyers, including Woolwor...
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