Woolworths to close by January 5

Special Report:Global Financial Crisis

LONDON, Dec. 17 (Chinese media) -- All the over 800 outlets of the crisis-ridden British retail chain Woolworths are to be closed by January 5.

Some 207 are to close on December 27 followed by another 200 on December 30, and a further 200 stores will be shut on January 2 and the remaining 200 on January 5.

The decision to close the outlets was taken after all attempts to find a buyer for the business failed, a spokesman said.

Woolworths' 27,000 staff will be retained for a short period after the closures but will then be made redundant.

Some 22,000 are currently employed full-time, the other 5,000 are temporary workers. The first will leave on December 31.

Last week shoppers formed huge queues and stripped shelves as a massive closing-down sale began.

The sale will continue with stores being stocked with 50 million new items including DVDs and toys. All items are currently discounted by between 20 percent and 60 percent.