Woolworths collapses in UK

LONDON – About 200 Woolworths stores in Britain have shut their doors for good.

The stores that closed on Saturday represent about a quarter of the company’s shops.

The chain’s other 600 stores are to close within about a week unless a last-minute buyer is found for the failed retailer.

It filed for a form of bankruptcy protection last month.

About 27,000 people are expected to lose their jobs.

The collapse of Woolworths just a year shy of the company’s centenary marks the biggest retail casualty in Britain of a recession-fuelled slump in consumer spending.

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