A HUGE closing down sale has being launched by Woolworths.

It comes as fears grow for the High Street chain's hundreds of workers in south Essex who face redundancy at Christmas if a buyer can't be found.

The sale takes place at all 815 stores nationwide and follows 50 per cent reductions last week.

The former High Street giant was put into administration late last month with debts of £385million. It employs 30,000 people.

Neville Khan, reorganisation services partner at administrators Deloitte, said: “We continue to make every effort to convert interest in the Woolworths assets into firm offers.

"While we are still seeking bids from interested parties, Christmas is clearly the busiest time for retailers and it is prudent we do all we can to sell existing stock.

"By moving to a store closing sale and futher discounting the stock, we are maximising the sales potential that this period offers.”

Deloitte said they were starting consultation with employees in the event of redundancies if a buyer is not found.

John Gorle, national officer for the Usdaw union, which represents 3,200 Woolworths employees, said: “This is devastating news. Hopefully someone will buy the business as a going concern.”