Deloitte is a worrying spectre at Woolworths’ Hallowe’en
October 28, 2008
It is somehow appropriate that with Hallowe’en around the corner, the horror
story at Woolworths enters a new, potentially brutal, chapter. Just when
Steve Johnson, the chief executive, must have felt it was safe to leave home
and visit some stores, it now emerges that the high street retailer’s
lenders have called in a corporate restructuring specialist to advise them
about Woolies’ future. Cue headlines that will send yet more shivers down
the spine of the group’s worried workforce.
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 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 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 talks to sell retail...
Woolworths is in talks to sell its entire high street business to Hilco, the
specialist distressed fund, for £1.
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 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.
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 in talks over £1 offer despite investor vowing to fight for better value
Woolworths’ biggest shareholder was locked in meetings with advisers last night over how best to fight Hilco’s £1 offer for the company’s retail arm.
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 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.
Closing-down sales herald end of...
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...
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 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.
Woolworths shares dive to all-time...
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...
Woolworths may plunge into a retail...
If Steve Johnson wondered what he had let himself in for by agreeing to be the
new chief executive of Woolworths, it was laid bare yesterday. According to
one City analyst, he...
Woolworths investor touts alternative deal
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 just £1.
Woolworths' main shareholder in bank talks
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 Hilco for £1.
Woolworths angers shareholders by...
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...
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.
New profit warning as Woolworths...
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...
Woolworths staff secure extra day's...
About 6,800 Woolworths staff will be receiving an extra day's pay after the
administrators of the collapsed store chain decided to postpone the closure
of its final 200...
Woolworths still eyeing The Warehouse
Cashed-up retailer Woolworths is still likely to make a tilt at the New Zealand general merchandise retailer The Warehouse, an investment house says.
Sugar snaps up 4% of Woolworths
Sir Alan Sugar, the irascible host of the BBC show The Apprentice, has
acquired a stake of almost 4 per cent in Woolworths, the embattled high
street retailer.