Woolworths and EUK to go into Liquidation

According to media reports, Retailer Woolworths along with its distribution company EUK are set to go into Liquidation within the next few days.

It’s a desperate time for Woolworths at the moment as prices for most of its stock have been slashed to 50% off throughout the week. Retailweek says that around 30,000 staff will face redundancy before Christmas as no one has yet to offer a buy out for the group.

The big gaming giants are set to lose out as a result of this too as media reports suggest that EUK are owing Microsoft £26 million and Nintendo £21 million.

As the sales continue at Woolworths, I’m sure we will find out what happens to the retailer within the next few days, we will keep you updated.

Source: Read