Woolworths take hit as MVC chain sold

Woolworths took a £34m (€49m) hit today after agreeing the sale of its loss-making music and video chain MVC.

Woolworths take hit as MVC chain sold
Mon, 01 Aug, 2005 - 09:49

Woolworths took a £34m (€49m) hit today after agreeing the sale of its loss-making music and video chain MVC.

The one-off loss on the sale of the 76-store business to corporate finance specialist Argyll Partners – will enable Woolies to focus on the battle to protect its UK high street stores from the retail downturn.

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CourtsBusinessHeathrowPlace: UKOrganisation: WoolworthsOrganisation: MVCOrganisation: Argyll PartnersOrganisation: Woolies
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