Wednesday, Nov 26, 2008
Say good bye to pic & mix!
Telegraph: Exclusive: Woolworths to go into administration
Trading in Woolworths shares was suspended this morning as talks to rescue the beleaguered retailer continued.
But following the breakdown of the talks the board plans to place the group's retail arm and distribution business into administration. However the holding company and 2entertain - a joint venture with the BBC - will not be placed into administration.
Posted by flintster1994 @ 05:52 PM (567 views) Add Comment
8 Comments
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1. mark said...
see ya....
2. japanese uncle said...
Woolworth was a sort of representation of the good old Britain. Hope to see its revival someday.
3. Trendinvestor said...
Very sad to see Woolworths go, very fond memories of "woolies" at least they offered a very usefull service. Not like that sub normal parasitic cretins in the City of London all they ever offered was debt and misery
4. a saver said...
Agree, ju, I'm sorry to see Woolies go, it was part of my childhood, going there in my school break, friends nicking sweets and stuff.
5. handle_it said...
Will their Dog & Sheep have to be put down ? Ahhhhh :O)
6. mark wadsworth said...
Double damn! Woolies and MFI on the same day. That's TWO of my favourite shops. I hope they keep going somehow.
7. mark said...
surely with companies like these going bust, it will drive houseprices down
8. Salts said...
This is the sort of thing that will make the political backlash worse. A lot of people will hold these old British institutions close to their hearts whether they shopped there regularly or not and will invariably be looking for someone to blame. To some, it'll be akin to ditching Coronation Street. Ok, maybe Woolies had been floundering for the past decade or so but the bankers well and truly bashed their heads in with a rock, and your average person will be even more resentful as a result.
Thats all before discussing the 31,000 extra souls who wont have a job to go to.