Woolworths losses near £100m and it scraps dividend
Woolworths, the pick-and-mix to kitchen pots retailer, today pledged to implement a root-and-branch reorganisation of the flailing business under its new chief executive after reporting a half-year pre-tax loss of nearly £100 million.
Woolworths announces cutbacks after record loss
The new chief executive of Woolworths plans to eliminate the company's final-salary pension scheme, cut jobs and sell stores after the ailing high street retailer reported a record £100 million half-year loss yesterday.
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.
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.
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 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.
Woolworths on track for FY sales growth
Higher food prices and growing market share have helped Australia's biggest retailer, Woolworths, to deliver better-than-expected third quarter sales.
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.
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...
Merrill lowers Woolies guidance
Global investment house Merrill Lynch reduces its annual earnings forecasts for Woolworths but says the nation's largest retailer is still in great shape.
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 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 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.
Deloitte is a worrying spectre at...
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...
Sales slide again at Woolworths
High Street retailer Woolworths reveals a 6.7% drop in sales in June and July.
Woolworths to ditch CD singles
High street chain Woolworths is stop selling CD singles from August because of the popularity of internet music downloads.
New boss for troubled Woolworths
Troubled retailer Woolworths names former Focus DIY boss Steve Johnson as its new chief executive.
Woolworths' new chief stands to net...
The DIY retailer Steve Johnson stands to collect a £7m windfall if he succeeds in what is reckoned to be the toughest job in British retailing – turning round the...
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...
Woolworths up on takeover talk
Shares in Woolworths soar after the struggling retailer rejects a takeover bid for its network of 815 stores.
Baugur: the iceman cometh...
Some City analysts wrote off Woolworths as a lost cause a long time ago. But Malcolm Walker, chief executive of the frozen food specialist Iceland, and Baugur, the Icelandic...