Woolworths will bring down the shutters for the last time on January 6 as the final group of stores close.

The 99-year old retailer, which fell into administration last year, has closed all 800 of its stores and made 27,000 staff redundant after being hit hard by the credit crunch, lack of credit insurance and plummeting consumer confidence.

Administrator Deloitte has failed to find a buyer for the business as a going concern.

A Deloitte spokeswoman said: “As the final stores close today it is looking less likely that there will be a sale of the business as a going concern. But there are discussions for the Woolworths brand, as well as Ladybird and Chad Valley.”

Deloitte said it is in continuing discussions to sell off the store portfolio. So far more than 300 stores are under offer to other retailers thought to include Iceland, Tesco, and Asda.

Before Christmas former Woolworths boss Sir Geoff Mulcahy held talks with Woolworths' biggest shareholder Ardeshir Naghshineh about a possible last minute rescue deal, but this is looking increasingly unlikely.

A consortium headed by Woolworths executive Tony Page has also been trying to secure backing to fund a deal.