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24 Nov 2008
The latest results from its endlessly contracting business showed pre-tax losses swelled in the six months to end of September, from £63.8m to £99.7m.
Woolworths would not comment on rumours that the potential bidder for its business is Hilco, the buyer of distressed companies, or the speculation that it may entertain the idea of a group sale for one pound. (Though the way sterling’s going, it would be a better idea for the board to take payment in one hundred penny sweets from their own excellent range and scoff them before the banks take them as payment for its outstanding loans).
The retailer’s property portfolio may prove a saving grace, making a profit in the period of £15.8m, up from £5.1m in 2007.
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