Oldest Woolworths among closures
More than 200 stores have shut down this weekLONDON -- U.K. retailer Woolworths is continuing its closure program, with its oldest store, based in south London, shutting its doors.
The Croydon branch of Woolworths, which opened in 1912, is among 163 closures on Tuesday. Administrator Deloitte has not found a buyer for the retailer, which sells products ranging from sweets and toys to CDs and DVDs.
There were 207 store closures Saturday and a further 37 Monday.
Around 200 more branches will close on Jan. 2 and the remainder will cease trading on Jan. 5. The retailer employed 27,000 staff at the 807 stores.
A Deloitte statement said that the leases on 300 sites were under offer from a ranger of third parties, adding that there is interest in the other 500 stores.
The Woolworths retail business and the group's wholsale entertainment distributor EUK went into administration on Nov. 27, roughly equivalent to Chapter 11 bankruptcy protection in the U.S.
Woolworths stores accounted for 10.2% of all U.K. album sales revenue in 2007, according to the BPI.