New profit warning as Woolworths abandons 2entertain sale
Woolworths lurched deeper into crisis yesterday as it abandoned the planned sale of 2entertain, its DVD publishing business, and admitted that a recent collapse in sales meant that it would again miss its profit targets.
Woolworths angers shareholders by rejecting Iceland founder's approach
Woolworths faces a showdown with its biggest shareholders after the ailing retailer rejected a takeover approach for its 815 stores yesterday from Malcolm Walker, the founder of the Iceland frozen-food chain.
Woolworths stands on brink as wage...
Woolworths is at risk of going into administration as soon as this morning as
it scrabbles to find sufficient funds to pay its monthly wage bill.
Woolworths in talks to sell retail...
Woolworths is in talks to sell its entire high street business to Hilco, the
specialist distressed fund, for £1.
Woolworths dives as it confirms...
Woolworths this morning confirmed a report in The Times that it is in
talks to sell its retail business.
Woolworths in crisis rescue talks
THE management of Woolworths was locked in crisis talks this weekend about
securing a revised rescue deal to save the group from imminent collapse into
administration.
Woolworths investor touts alternative...
Woolworths’ largest shareholder, Ardeshir Naghshineh, is in talks with the
retailer’s banks about an alternative plan to a sale the company’s retail
arm to Hilco for...
Woolworths' main shareholder in bank...
Ardeshir Naghshineh, Woolworths' largest shareholder, is in last-ditch talks
with the retailer's banks about an alternative to a sale of the high street
chain's retail arm to...
Woolworths shares dive to all-time low after warning of 'marked' downturn
Woolworths had a day to forget yesterday, when it posted a profit warning, revealed dire recent trading, and tore up plans to sell its £200m stake in DVD publisher 2 entertain.
Closing-down sales herald end of Woolworths stores group by Christmas
Woolworths will begin a huge closing down sale across its 813 stores today after Deloitte, the administrator, admitted that it had been unable to find a buyer for the retailer. The disappearance of the stores group will end a 99-year presence on Britain’s high streets and leave 30,000 staff facing a bleak Christmas and new year.
Woolworths stores to close after...
Woolworths went into administration last night, putting thousands of high
street jobs at risk despite last-ditch government efforts to save it.
Potential buyers emerge to save...
The new management of Woolworths today revealed it has already received
several expressions of interests from parties about buying parts of the
business which collapsed last...
Film distributor is victim of...
The fallout from the collapse of Woolworths spread this morning as Metrodome,
a UK-listed film and television distributor, warned it risked losing
£320,000 it was owed by the...
Bidders sought as beleaguered...
The starting pistol was fired yesterday for the sale of Woolworths and MFI as
the court-appointed managers sought buyers for the beleaguered stores.
BBC in talks with Woolworths as...
The entire Woolworths empire, including its stake in 2Entertain, the BBC joint
venture, is likely to be in administration by the end of the week, with its
10,000 pensioners at...
Woolworths rejects offer by Iceland...
Woolworths has rejected a surprise offer to acquire its retail division by Malcolm Walker, chief executive of the frozen food specialist Iceland.
Woolworths rocked as senior director quits
One of Woolworths’ most senior directors has quit only a month after the high street retailer’s new chief executive savaged the poor performance of the group.
Woolworths hires finance veteran in shake-up
Woolworths has appointed a new chief financial officer days after the departure of a senior director raised concerns that other executives may leave the troubled retailer.
Woolworths lays off staff as search...
Woolworths will make 450 of its staff redundant in what is expected to be the
first of many job cuts at the collapsed high street retailer.
Chaos and tears as Woolworths’ sale...
It is 9.30am and Sandra, assistant manager of Woolworths in the Wiltshire
market town of Devizes, is in tears beneath her red-and-white Santa hat.
Woolworths shares crash to seven-year...
Shares in Woolworths crashed this morning to a seven-year low after the
retailer issued a profit warning, saying that sales declined in the first
half.
Woolworths to close all stores by...
Woolworths will end 99 years of high street trading by January 5 when it
closes 807 stores and lays off 27,000 permanent and temporary staff.
Steve Johnson to run Woolworths
Woolworths, the troubled high street retailer, has appointed Steve Johnson,
the former chief executive of Focus DIY, as its new chief executive. He
replaces Trevor Bish-Jones,...
Woolworths set to meet guidance
Woolworths Ltd is set to meet its annual earnings forecasts after yearly sales rose on the back of a strong performance by its supermarkets division.