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| Dec 28, 2008 | |
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200 Woolsworths stores close
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LONDON - ABOUT 200 Woolworths stores in Britain have shut their doors for good. The stores that closed on Saturday represent about a quarter of the company's shops. The rest of the stores are to close within about a week unless a last-minute buyer is found for the failed retailer. It filed for a form of bankruptcy protection last month. About 27,000 people are expected to lose their jobs. The company's current debt-laden predicament is a far cry from the clamor that greeted the first British store, which opened in Liverpool, northern England, in 1909 under the FW Woolworths brand - a subsidiary of the US company. The British retail company has outlasted its original US parent, which closed its final Woolworths stores in 1997. -- AP | |
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