The closure of the British century-old shop Woolworths

Britain's economy into recession, consumer spending is weak, the British century-old shop Woolworths declared the closing down of more than 30,000 jobs at stake. The economic downturn, the British retail face of winter, in the Woolworths officially declared bankrupt the day before, the British furniture chain MFI has been to apply for liquidation. British insolvency practitioners estimate that may break out after Christmas retail closures. The British retail industry, this really is too cold in winter, two major retailers in the United Kingdom have been declared bankrupt, century-old shop Woolworths confirmed Thursday filed for bankruptcy to the authorities, Woolworths operating for nearly a hundred years time, an end, 30,000 related jobs at risk . Although the British business minister Peter Mandelson Woolworths do not want to collapse, but the trend of the times, it is necessary to stop resistance also did not come. Woolworth to apply for liquidation, liabilities 385,000,000 pounds. Woolworths closed down, the retail trade winds blowing, there were about 30,000 people joined the ranks of the unemployed ranks, the industry estimates that this Christmas shopping season, sales in the bleak, it should be the worst in 30 years. British government 20 billion pounds this week, pushing the program to stimulate the economy, coupled with tax reductions, and look forward to revitalizing the economy, but analysts pointed out that the decline in property prices, stock market crash and a large number of British wealth evaporate, if the unemployment situation to deteriorate, consumer spending must greatly reduced and the retail industry to bear the brunt. Woolworths is a veteran British retail group in 1909 opened its first shop, and developed to now, more than 800 branches all over the All England selling electronic products from candy to have a staff of up to 30,000 people. Although the British business minister Peter Mandelson Woolworths do not want to close down, I would like to save the no-gong, Woolworths has also been the appointment of Deloitte & Touche accounting firm arrangements to sell assets to find buyers. It is reported that the acquisition of specialized financial hardship settlement enterprise Hilco companies, once considered the acquisition of the retail sector, Woolworths, during contact with 20 retailers, to test whether there are experts on the acquisition of Woolworths stores interested in the final failed to reach any agreement. British newspaper "Independent" news, the board of directors last week, Woolworths and Hilco negotiations to sell its assets, reported that, Woolworths to £ 1 price, the sale's stores to Hilco, but in the end, both sides fail to reach an agreement. The outbreak of retail closures British insolvency practitioners estimate that may break out after Christmas retail closures. Woolworths shares to stop trading Wednesday before falling just 1.22 pence per share, worth about 17.8 million pounds. Woolworths announced Thursday before passing out, the British furniture chain MFI Group Wednesday announced the winding-up, the British property market downturn and the closure of drag MFI. MFI issued a statement saying the group a serious shortage of cash flow, the deterioration of the property market decline, poor sales in the furniture market. MFI was founded in 1964, was once Britain's largest furniture retailer IKEA recently, B & O and Homebase equivalent industry competitive, the business affected. MFI employs about 1 thousand people in the United Kingdom more than 100 stores.