JOBS are under threat at Jersey’s Woolworths store after the troubled high street giant went into administration.
Nationally, all of its 815 stores will stay open past Christmas, but 30,000 jobs are at risk following the collapse of last-ditch talks designed to rescue the company.
No one was available to comment at the King Street branch — believed to be the company’s biggest and most profitable store — but it is understood that staff have been briefed about the problems. Professional services firm Deloitte, which was last night appointed as administrators, said that there were ‘expressions of interest’ for the retail and wholesale business.
Woolworths had tried to sell itself to restructuring firm Hilco for just £1, but the deal fell through. The company has had cashflow problems for years and has recently struggled to manage its £385 million of debt. The search is now on to find a buyer for all parts of the business.
Article posted on 27th November, 2008 - 2.57pm
5 Article Comments
It would be so sad to see Woolies go. I have so many fond memories of the shop from when I was a child. My dad and I would go in every Friday and he would get his tabacco from the little hut they had and then we would have a scone at the cafe, which was where the DVDs are now and then always a ride on Bugs Bunny before we left. I still love shopping there now, as do both my children.
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The Woolworths store in St Helier is a nice shop, much better I think than many of the UK branches (probably because of the lack of competition in Jersey). But if it does close down, it would make a perfect site for an ALDI or LIDL or TESCO or ………………
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i agree with you mick tait just hope it is not iceland as they offered to buy them up a couple of months ago.it would just be more of the same old we do need more choice i still miss safeway and morrisons dreadfully as they gave us all great value nothing now to match them.if wollies do go watch the prices rise chocolates stationary and kitchenware and most other goods they sell shame if they close for us and employees
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If it does go then it will be the last one of all the branches to do so, hence being the most profitable.
Im not sure why we would possibly want a Tesco or ASDA in its place though. Im totally for competition but wouldnt it be better to have the French over here? We are talking about food at the end of the day and that is something they are masters at. The meat is 100x better and think of all the cheap booze…
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I’m gutted that Woolies in Jersey is closing down, let alone the demise of the actual company. I live on the mainland BUT do visit regularly each year. I’ve always thought Tesco would do very well in Jersey – and the store is big enough to hold a very large Tesco Metro what with the upstairs as well. If Tesco could take the place of Woolies on King St they’d do so so well. I’ve been coming to the island for years and years and have always thought the price of food in Jersey is a total rip off. And the quality of the fruit and veg can be poor (you really have to shop around for good fruit n veg!) Example of pricing: Greek style yoghurt which I love, in Tesco is 98p, in one shop in Jersey its £1.80. Almost double!! I personally know people over there whose wages are small, and I just don’t know how they live (maybe they steal potatoes from the fields late at night) rofl. There is a big gap for a shop like Tesco or Sainsbury in Jersey I feel (esp. Tesco).
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