LONDON (AFP) — Woolworths, a century-old retail institution buckling under the weight of the economic crisis, will close its remaining 200 stores for the final time at the end of trading on Tuesday.
The retailer had already shut most of its outlets with at least 150 of the 807 shops ending business on 30 December.
Another 200 stores opened for the last time on Saturday morning after a one-day reprieve by the High Street chain's administrator Deloitte.
The company's collapse leaves 27,000 workers out of work.
According to Deloitte, other retailers have expressed interest in acquiring around 300 Woolworths stores, as well as the company's brand name, meaning it may reappear on the high street at some point.
The first Woolworths store was opened in Liverpool in 1909, and expanded into a chain of shops selling toys, stationery, magazines and novels.
It filed for administration in November last year.
Deloitte flooded Woolworths stores with an extra 50 million items in the run-up to Christmas in a bid to get rid of existing stock, and storefronts featured signs displaying a countdown to when they will close, as the company tried to encourage shoppers.
Woolworths ran into trouble after succumbing to the weight of its debt.
Things became more complicated when it was forced to pay cash while purchasing goods from suppliers because trade credit insurers were no longer prepared to cover its suppliers.
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