Euler Hermes, world's biggest credit insurer says premiums may rise as companies fail
December 3, 2008
The cost of credit insurance is set to rise after Euler Hermes, the world's
market leader, issued a profit warning after the collapse of Woolworths, the
British retailer.
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.
BBC in talks with Woolworths as pensioners fear worst
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 the back of a queue of creditors hoping to get their money back.
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 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.
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.
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 in talks over £1 offer...
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 talks to sell retail...
Woolworths is in talks to sell its entire high street business to Hilco, the
specialist distressed fund, for £1.
Bidders sought as beleaguered Woolworths and MFI stores go up for sale
The starting pistol was fired yesterday for the sale of Woolworths and MFI as the court-appointed managers sought buyers for the beleaguered stores.
Film distributor is victim of Woolworths collapse
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 fallen retailer.
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 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 hires finance veteran in...
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...
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 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 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...
Potential buyers emerge to save Woolworths staff
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 night after 99-years of trading.
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.
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 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 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 sale after Theo Paphitis...
Woolworths will hold its biggest sale today after Theo Paphitis, the Dragons'
Den entrepreneur, walked away from a bid for the collapsed retail chain.
Woolworths axes 450 staff amid firesale
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.
Woolworths desperate for buyer amid...
Just a year shy of celebrating its centenary, retailer Woolworths Group PLC was on the verge of collapse Thursday as financial administrators appointed to the company raced to...