Woolworths in the UK closed its stores permanently on January 6, 2009, following a rapid collapse into administration amid financial difficulties exacerbated by the 2008 financial crisis. Over 800 stores were closed, and about 27,000 jobs were lost during this shutdown period.

In the United States, the Woolworth retail chain closed its last stores much earlier, officially shutting down on July 17, 1997, after years of declining sales and financial struggles.