Woolworths’ bid to find a buyer sadly ended into failure and may lead to its imminent closure in next few weeks.

At 4.30pm on Wednesday, managers of chain’s 815 outlets were informed that the great icon of the British high street could not find a buyer after going into administration on November 26 with huge debt of £385m. They were asked to launch closing-down sale.

Low prices got down even lower with this news. Customers were stunned and also saddened as the word spread. The staffs were told that all hope had gone. Their faces demonstrated a sense of irony which was never anticipated from Woolies’ shop assistant.

The firm’s administrator, Deloitte, told 25,000 strong staff that since no offers were forthcoming, some stores were likely to close before December 31.

Customers are as shocked as the staff. A customer recalled that he was visiting the stores to buy things like kitchenware, birthday cards and tights for last 20 years. He commented that he liked Woolworth because it was cheaper and offered good choice than other places.

According to retail analysts, Woolworths’ biggest problem was its sale of stationery, DVDs, towel rails, glasses, children’s clothes and electrical goods, which demonstrated terrible absence of focus instead of specialisation.

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