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Is the fight for Woolworths over?

In a rather bizarre turn of events it has tonight been suggested that a number of substantial shareholders in Woolworths are looking at legal options if as expected the business is put into administration this evening. Investors are allegedly unhappy at the way the Woolworths board has handled the potential sale of the retail division which has not only put the overall business at risk but seen the share price fall and ultimately suffer a suspension today.

There had been indications earlier in the week that some of the substantial shareholders in the company were willing to consider additional investment to save the operation although it is not sure if this avenue was ever investigate. As well as investors, many of the U.K.'s consumers cannot believe how a company with a history such as Woolworths has been allowed to disintegrate and ultimately stand on the verge of going on under.

Whether there is any legal recourse to the Board of Directors of the main holding company remains to be seen but it looks highly likely that the business will be no more within just a few hours. Even though the signs of difficult trading had been there some months ago nobody could have guessed the final outcome for a business which has been visible on the UK high street are many many years.

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