Retailers for sale in Britain
Posted on: Friday, 28 November 2008, 11:09 CST
The pre-Christmas sale is on in Britain for discount furniture store MFI and Woolworths, two retailers that recently filed for court protection.
While retail sales are making news in the United States on Black Friday, it is retail operations that are up for grabs in Great Britain.
The Times of London reported Friday clothing retailer Whittard and Whistles is seeking a buyer and House of Fraser and Hamley's are expeted to go on the block.
Woolworths and its 815 stores are for sale, as is its wholesale CD and DVD distribution business EUK. The furniture store chain MFI has 111 stores for sale.
While there was some early interest reported in buying Woolworths, Prime Minister Gordon Brown said Thursday, the important thing is in the long run that employees in this company -- where the businesses and the shops are not going to stay open in the longer term -- can get other jobs quickly.
That's why we're going to move in immediately to give advice to employees,
Brown said.
Source: United Press International
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