WOOLWORTHS - END OF AN ERA? 26th Nov 2008.

WEIR COMMENTS AS WOOLWORTHS ENTERS ADMINISTRATION


SNP Business and Enterprise spokesperson, Mike Weir MP, has described reports that High Street retailer Woolworths has gone into administration as “a worrying sign for the local economies throughout Scotland.



Mr Weir said:



“Woolworths has been a fixture of High Streets the length and breadth of the country for almost one hundred years, surviving several recessions.

”It has been no secret that the company has faced difficulties in recent years but the fact it is now going into administration is very worrying.



“I sincerely hope that that the administrators are able to find a future for the stores. Clearly it is an anxious time for the employees of the group.



“If the business cannot be saved it would leave an enormous gap in High Streets up and down the country. It is an institution especially in small towns throughout Scotland. In many cases it is the only national chain left on the High Street.



“This is yet more evidence of the problems that are facing businesses large and small with the looming recession. The Scottish Government have taken strong action to help small businesses with the small business bonus which slashed business rates.”



Mr Weir, who last week challenged the Prime Minister directly on help for local businesses added that more needed to be done by the Westminster government. Mr Weir said:



“The UK government must step up action and ensure that the re-capitalised banks take a compassionate attitude to businesses in these tough times.”