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Woolworths stock will be sold to the highest bidder

As the search goes on for new investors into the collapsed Woolworths chain the administrator has announced a fire sale of the retail stock which will be sold at rock bottom prices. The massive sale will offer some investors the chance to pick up merchandise at bargain basement prices but it will also place more pressure on others in high street to follow suit and cut their prices. The short-term negative impact is sure to hit retailers at the worst possible time in the run-up to Christmas.

A number of parties appear to have pulled out of the bidding for the Woolworths retail chain and the more stock which is sold in the open market the less chance of a potential bidder being successful. The longer the group remains in administration the more chance it will disappear forever. This is a company which has been around in the UK for over 50 years and while it did not appear to move with the times the sudden demise of the group has taken many by surprise.

On the UK high street it seems as all we are hearing about companies going under each and every day and with the competitive Christmas period approaching the situation will get much worse before it gets better.

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