Doors Close at About 200 Woolworths in Britain
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By THE ASSOCIATED PRESS
Published: December 27, 2008
Filed at 2:48 p.m. ET
LONDON (AP) -- About 200 Woolworths stores in Britain have shut their doors for good.
The stores that closed 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 U.S. company.
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2008 was a nightmare. I'm lucky I'm alive. I'm curious what 2009 has in store.
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