Goodbye Woolworth

[youtube=http://uk.youtube.com/watch?v=AimzRDZvvgA]

Watch a news article from the BBC relating to the closing downing down of Woolworth.

The F. W. Woolworth Company (often referred to as Woolworth's) was a retail American company that was one of the original five-and-dime stores. The first Woolworth's store was founded, with a loan of $300, in 1878 by Frank Winfield Woolworth. Despite growing to be one of the largest retail chains in the world through most of the 20th century, increased competition led to its decline beginning in the 1980s. In 1997, F. W. Woolworth Company converted itself into a sporting goods retailer, closing its remaining retail stores operating under the "Woolworth's" brand name and renaming itself Venator Group. By 2001, the company focused exclusively on the sporting goods market, changing its name to the present Foot Locker Inc (NYSE: FL). Company that was one of the original

Retail chains using the Woolworth name survive in Germany, Austria, Mexico, and South Africa, and, until the end of 2008, in the United Kingdom. The similarly-named Woolworth's supermarkets in Australia and New Zealand are operated by Woolworths Limited, a separate company with no historical links to the F. W. Woolworth Company or Foot Locker, Inc. However, this company did take the name from F. W. Woolworth as it had global appeal. sourced from Wikipedia

Woolworths in store closure sales

Woolworths branch Woolworths went into administration last month Woolworths is to hold a store closure sale in all its 815 outlets from Thursday amid growing concern that a buyer will not be found for the firm.

Woolworths went into administration last month

Administrator Deloitte said that if no offers for Woolworths were forthcoming, "it is possible that some stores may close before the end of December".

It added that it would consult with the retailer's 30,000 staff over support available in the event of redundancies.  read full article