12/29/2008

Britain to suspend a century-old store retail stocks red strobe

Founded in 1909, the existing 840 outlets in Britain daily necessities and household goods and entertainment supermarket chains WOOLWORTHS26 Group announced today that its stock of the London Stock Exchange suspended. Recently, people have been hearing voices from the United Kingdom greeting card companies, furniture companies, enterprises, "bad news", the United Kingdom began a variety of retail "warning."
WOOLWORTHS in a statement that the group is working with the British Broadcasting Corporation (BBC) consultations, the two will set up a joint venture to produce entertainment company 2ENTERTAIN40% of the shares sold to the BBC. In view of the ongoing negotiations on the acquisition, the board of directors to apply for shares stopped trading on the entry into force on the 26th. When the news was announced, the company's stock price will stop at 1.22 pence per share level (1.5 U.S. dollars or about 1 pounds, 1 pounds to 100 pence).

WOOLWORTHS said, because of specific conditions still under consultation, also with its lending banks to maintain close contact. Market speculation, WOOLWORTHS relative to this part of the money transfer business, but also to get some money to live, to ease the pressure on the company right now.

The century-old from Liverpool in the old All-England has 30,000 employees in the past 12 months, the company's share price fell by 90%. The company had announced 19 to 1 pounds are willing to "honor the price" to sell themselves, but because of its liabilities of up to 385,000,000 pounds, very interested buyers.

25, referred to as Britain's largest seller of the gift card, "Clinton's gift card chain," announced in the past 16 weeks, the company's sales dropped 6%. Before Christmas is the gift card sales this season, but that the performance of the greeting card retail business professionals how tense.

In addition, the greeting card company since early August, although opened 12 new stores, but at the same time it was closed 21. Although the new store opened as usual, the customs of the old shop is quite normal "strategic adjustment", but taking into account the decline in sales, so some adjustments in the number of "ominous".

The luck seems to be more than the two above-mentioned enterprises, the latest news in Britain, 110 stores in MFI Furniture company is also facing the risk of bankruptcy. The company executives said, because of difficulties to pay the rental store, the company may be closed.

As a result of this operation are not good in 2006 to 1 pounds of hand-turned furniture price is a 80-year-old shop in the UK there are more than 1,500 employees, specializes in home and office furniture. In addition to the store, also on-line sales. Despite this year in September to replace the management, but many of its stores are still facing difficulties to pay rent.

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