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Search forWoolworths sales talk fuels job fears
Friday, November 21, 2008, 07:00
The company has confirmed it is in talks to sell its 800-strong chain in the UK.
And there are fears the new owners could close up to half of the branches, putting thousands of employees on the dole.
In a statement Woolworths said: "The board can confirm it is in preliminary discussions regarding a possible offer for the retail business.
"There can be no assurance that any offer will be forthcoming."
The sell-off talks come after the retail giants reported a record half-yearly trading loss of £91 million and debts totalling £295 million.
Woolworths, which celebrates its centenary in 2009, started trading in Scunthorpe High Street on September 7 1927 on the site of the former Primitive Methodist Church.
During the 1920s Scunthorpe was among 336 stores to be opened as High Streets became popular for shoppers.
Six years ago the branch relocated to its present base, a £3.5-million building in the town's Parishes shopping mall.
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CONCERN: There are fears about the security of jobs after Woolworths admitted it was in talks to sell off the British arm of its retail chain. PICTURE: Carl Gac.
Well done Tony Blair! You knew just when to resign as Prime Minister, leaving Gordon Brown in the mess you created. However, Brown is not without criticism.The next election I will vote for the Monster Raving Loony Party.
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