Shrygue
December 10th, 2008, 19:39
via Games Industry (http://www.gamesindustry.biz/articles/euk-and-woolworths-set-for-liquidation)
Retailer Woolworths and its distribution company EUK are to go into liquidation within days, according to media reports.
According to RetailWeek, around 30,000 staff face redundancy before Christmas, as administrators Deloitte have failed to find a buyer for the group.
UK tabloid The Sun also reports that games publishers are set to lose out on millions of pounds, estimating that EUK owes Microsoft GBP 26 million and Nintendo around GBP 21 million.
Woolworths buildings are likely to be sold off to supermarkets Tesco, Iceland and Sainsbury's, and budget chain Poundland.
Woolworths went into administration in November, and has since slashed prices by up to 50 per cent, while around 450 jobs have already been axed.
GamesIndustry.biz has contacted Deloitte for comment.
Retailer Woolworths and its distribution company EUK are to go into liquidation within days, according to media reports.
According to RetailWeek, around 30,000 staff face redundancy before Christmas, as administrators Deloitte have failed to find a buyer for the group.
UK tabloid The Sun also reports that games publishers are set to lose out on millions of pounds, estimating that EUK owes Microsoft GBP 26 million and Nintendo around GBP 21 million.
Woolworths buildings are likely to be sold off to supermarkets Tesco, Iceland and Sainsbury's, and budget chain Poundland.
Woolworths went into administration in November, and has since slashed prices by up to 50 per cent, while around 450 jobs have already been axed.
GamesIndustry.biz has contacted Deloitte for comment.