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  1. #1
    Expert angst
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    Woolworths - Be sure you are protected

    Woolworths - Be sure you are protected

    Talks are continuing between troubled retailer Woolworths and its two main banks in an attempt to establish if it is possible to save the iconic chain.

    Woolworths has debts of £385m and it is at risk of going into administration.

    httx://news.bbc.co.uk/1/hi/business/7743906.stm

  2. #2
    Contributor DGARRAGHTY
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    It's a shame this, but somewhat inevitable really. The stores have never really made money for them. Their wholesale distribution arm and the '2 Entertain' linkup with the BBC are more profitable. It's likely the administrators will sell those off as going concerns, and the Woolworths name will be sold off. It's already been passed around a lot over the years anyway, and the current Woolworths has nothing to do at all with the original FW Woolworths.

  3. #3
    Rpoints Elite midnightz
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    To be safe, I think worth only paying for items with credit cards.

  4. #4
    Contributor whitbyfish
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    I suspect any buyer for the stores would just want to flog off the stock and remaining assets. In this climate it's very doubtful that anyone would want to take a punt at turning round a format that looked spent years ago.

    I,m sorry for the staff but the weak players were bound to get picked off, Probably after Christmas store failures will accelerate.

    Losers
    JJB
    Pastimes
    Maybe Dixons
    debenhams
    BHS

    Winners
    Tesco
    Poundland
    Aldi

    ANy more suggestions

  5. #5
    Expert krakan
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    Woolworths have been the masters of their own downfall, they've spent the last five years hell-bent on reaching the bottom end of the market, they're made their shops more garish, their adverts more tacky and they have almost hidden their traditional clothes and games sections with utter tat.

    There's no long term money in tat, unless you're prepared to go the whole hog (a la poundland) and all they've done is make Woolworths the sort of shop most of us wouldn't even think of going into.

  6. #6
    Enthusiast soma
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    Quote Originally Posted by whitbyfish
    I suspect any buyer for the stores would just want to flog off the stock and remaining assets. In this climate it's very doubtful that anyone would want to take a punt at turning round a format that looked spent years ago.

    I,m sorry for the staff but the weak players were bound to get picked off, Probably after Christmas store failures will accelerate.

    Losers
    JJB
    Pastimes
    Maybe Dixons
    debenhams
    BHS

    Winners
    Tesco
    Poundland
    Aldi

    ANy more suggestions
    Tesco is definitely a loser in all of this rather than a winner. They are leaking customers to Asda/Morrisons etc

    Both Morrisons and Asda are doing particularly well at the moment. Lidl and Netto should also be added to the winners list!

  7. #7
    Contributor garindan
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    Quote Originally Posted by soma

    Tesco is definitely a loser in all of this rather than a winner. They are leaking customers to Asda/Morrisons etc
    I think Tesco is the overall winner with anyone like Woolies going out of business. They have been aggressively attacking Wollies and Argos for ages now. That is what Tesco Direct is all about! They will be happy as Larry if Wollies go into administration like MFI have just announced they are about to.

    However, Wollies are likely to be saved I would think by someone who wants the High Street presence they offer.

  8. #8
    Expert angst
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    Gone!

  9. #9
    Contributor bilbo
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    Along with MFI

  10. #10
    Contributor bt4223366
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    I never got a chance to use my £10 gift voucher from last Christmas


 

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