News
Woes continue for Woolworths
Woolworths' share price slumped by almost a sixth yesterday after it was revealed the retailer had canceled direct debit payment of its business rates.
After a torrid day's trading across the world financial markets yesterday, the Daily Telegraph reported that shares fell 0.65p to 3.36p, a fall of 16.21%.
A spokesman for Woolworths told the newspaper it had taken the decision to suspend payments because the retailer has already paid its business rates 12 months in advance and wants to focus on improving cash flow, explained the spokesperson.
“Woolworths Group is currently in credit in terms of its business rate payments. On that basis we are simply rescheduling payments on account,” added the spokesman.
See Also
Related
- EUK not the problem for Woolies boss
- City frets over Woolies Christmas
- Woolworths confirms sale talks
- Woolies should turn bucket shop, says City
- Suppliers tighten Bertrams terms
Book news from the BBC
- Mother rejects child abuse memoir
- Male writers dominate Costa award
- Mother denies judge's abuse claim
- Author Ness wins Booktrust prize
- Noddy returning for 60th birthday
Latest Comments
- Did you know that Dawn French's memoir, Dear Fatty (Century),...
- I can't see you (or Sparkfilms) on the Internet Movie Database (imdb.com)....
- So what is the real value of Woolworths? I would say that after the key...
- The retail dam is likely to burst open at any moment. I see some major...
- More quasi-religious censorship. Will it never end?
RSS
Subscriber Content