The largest shareholder in Woolworths has condemned yesterday’s closure of the chain as 'unnecessary' and criticised the retailer’s management and Deloitte, its administrator, for allowing the business to fail.

Woolworths shut its last 200 stores yesterday evening after 99 years on the UK’s high streets.

Ardeshir Naghshineh, the Iranian property entrepreneur who owned a 10pc stake in Woolworths, said that it was a 'terrible shame that money is being found' to pay Deloitte and Hilco, Woolworths’ administrator and its adviser, 'while 30,000 staff are losing their jobs'.

Daily Telegraph