Trading In Woolies Shares Suspended
Trading in Woolworths shares was suspended this morning as talks to rescue the beleaguered retailer continued.
In a brief Stock Exchange statement Woolworths announced that it had asked the exchange to suspend trading “pending the outcome of these discussions”.
The collapse of the high profile chains could also spark further discounting as administrators try to clear stock in the run up to Christmas – hitting the profitability of other retailers.
Retailers have been squeezed by a collapse in sales in the run up to the crucial Christmas trading period as consumers have cut back spending.
In a brief Stock Exchange statement Woolworths announced that it had asked the exchange to suspend trading “pending the outcome of these discussions”.
The collapse of the high profile chains could also spark further discounting as administrators try to clear stock in the run up to Christmas – hitting the profitability of other retailers.
Retailers have been squeezed by a collapse in sales in the run up to the crucial Christmas trading period as consumers have cut back spending.
