Friday, December 5, 2008

Woolworths launches massive sale!

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Troubled retailer Woolworths, which crushed under its debt last month, has launched what its administrators have called the group's "biggest ever sale".

Discounts of up to 50% have been offered on toys and greeting cards, with prices for entertainment goods also being reduced across all ranges.

Retail analyst Nick Bubb said the move "looked like a closing down sale".

Also on Friday, the administrators announced 450 job cuts in support operations in London and Rochdale.

There have not yet been any job cuts in shops or distribution centres.

Administrators said they expected the stores to remain open after Christmas and that the sale was "ongoing"


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