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Woolworths enters administration


Dunc

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Administrators are to begin working at Woolworths after its board agreed to call them into the ailing UK retailer.

All 815 stores will stay open for now, but 30,000 jobs are at risk after the chain buckled under its 385m debt.

Deloitte was last night appointed as administrator to the High Street store and also to Entertainment UK, which supplies DVDs to supermarket groups.

Furniture chain MFI is also going into administration after suffering several years of financial trouble.

Woolworths' joint venture with BBC Worldwide - publisher 2 Entertain - will not go into administration as it is owned by Woolworths' parent company. :mad:

http://news.bbc.co.uk/1/hi/business/7751714.stm

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  • 2 weeks later...

Just a warning to save your time if you're planning to make a special trip to Woolworths.

Don't bother.

Yes, there are some items marked down by 50%, but most of it isn't. Most of the things you're likely to want to buy are marked down by a measly 10%, with some reduced by 20%.

There's a very limited amount of stuff marked down by 50% - and you probably won't want to buy it.

The adverts are highly misleading - 'up to' 50% in very small print and the 50% in huge print.

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