Woolies are finished.

The giant Woolworth chain of stores have been put into liquidation. Founded in 1909 on the basis of everything cost 3d or 6d(old Pence)The company has crashed with debts of 385 million pounds.The administrators are keeping the stores open until the New Year but the staff have been informed. Also yesterday another British high street giant,
M F I has gone into administration,
http://news.bbc.co.uk/2/hi/business/7751064.stm

One assumes the administrators will sell "Made For Idiots" (MFI) in a flatpack with instructions to reassemble the company in your own home.

Shame about Woolies, I used to stock my "office Tuck shop" with their special offer sweets, and made quite a profit, whilst still underpricing all the local shops/stores.

trubrit wrote:The giant Woolworth chain of stores have been put into liquidation. Founded in 1909 on the basis of everything cost 3d or 6d(old Pence)The company has crashed with debts of 385 million pounds.The administrators are keeping the stores open until the New Year but the staff have been informed. Also yesterday another British high street giant,
M F I has gone into administration,
http://news.bbc.co.uk/2/hi/business/7751064.stm

Woolworth shares strong in aussie
Current Price Open High Low Last Close Volume Price Movement
$ 25.250 $ 25.100 $ 25.690 $ 24.880 $ 25.100 2,722,329 $ 0.150 0.598 %

Different company in Oz.

Don't believe everything you read, even down to house prices, my friend who is an estate agent, states and I quote' If the press told the truth and stopped hyping upthe p[roblems life would be ok.'

So woolies bust, noway they own too much real estate to do that some way will be found to revamp their tarnished image.

Well said Paul, I am fed up with the Chicken Licken types spouting media speculation as if it is news
All they do is look for something to cut and paste or add a link and hey presto they got a topic
I welcome posters opinions as that is what this forum is for, why they can not start a topic with there own views is beyond me, maybe they are just voyeurs or looking for points.
With regard to woolies so what, they sell rubbish goods the staff are surly and the shops are out of date and that is just London.
Point of note i refer only to so called Speculation News stories.
Never make your move to soon.

Ter

Khun Paul wrote:Don't believe everything you read, even down to house prices, my friend who is an estate agent, states and I quote' If the press told the truth and stopped hyping upthe problems life would be ok.'

So woolies bust, noway they own too much real estate to do that some way will be found to revamp their tarnished image.

Best you stick to reporting Paul, as you obviously know nothing about finance.If you care to read the full chairmans statement you will see the company was up for sale for just one pound to any buyer that would take on it massive indebtedness. As for owning too much real estate, maybe your friend the know everything estate agent should look again. All the retail properties are owned by a separate holding company and are merely leased to the retailers.
Of course an estate agent would tell you house prices are holding there own, don't believe what you read in the papers. He has a vested interest to make you believe that, but if you do, you are certainly more naive than even I thought.

They are going TiT$ up ....shame really, only ever used local stores mainly for DVDs/Toys/sweets and never been treated bad by staff, and goods are only the same as any other shop,very old school but things like that don't really matter when you get a bit older,although i don't recall setting foot in one between the ages of 16-30 maybe thats why they are going down the pan, a younger customer base along with the old faithfull would of helped..!!.....and lets not forget thousands(30000) of people out of work very soon...a rescue bid..? wait and see but the figures and what with the current climate of retail it don't read well.

Especially for Ter.

http://news.bbc.co.uk/2/hi/business/7751714.stm

News, is the reporting of events as they happen. If left to after, then of course , its history.
So more events on the story, updated.

The US branch, Woolworth, closed in the 90's. However, the US and UK branches were independent of each other. We used to call them five-and-dime stores.

Your point is you missed the point trubrit, is that what you are trying to convey ? Perhaps too much whiskey not enough ice
Its not about who is right and who is wrong trubrit its about exploring your view and other posters views about the news, not just repeating it

Ter

Its Official....No takers....all gone with-in 3 weeks.

Thanks BM.

A little bit of nostalgia.
This leaves no doubt about what the kids paid for a
coke and sandwich at Woolworth's in the 1950's!!!!: