What happens to my shares if woolworth goes into administration?
They will probably be frozen until the administrator settles the accounts.Woolworth’s will owe money to banks etc and redundancy pay to staff etc however it will own assets like stock and stores.How much it can sell these for will determine how much net cash or debt the group has.If this can be sold and then pay off its debts and have money left over then the share holders will own the remainder and may be paid a dividend.The shares themselves though will be worthless.
Hold tight there maybe a buyer on the horizon who may make an offer for your shares, though I doubt if you will get the full value back that you payed, however a little is better than nothing and you will lose no more by holding on… unless of course someone is daft enough to take them of your hands at your going price.
