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Old 11-26-2008, 07:06 PM   #1
Swanny
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Thumbs down Woolworths is finished

Blimey Woolies is going down
http://news.bbc.co.uk/1/hi/business/7751064.stm
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Old 11-26-2008, 07:08 PM   #2
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Default Re: Woolworths is finished

Swanny,
this is just a taster for next year. My cousin is a manager for a major food retail chain, and she is s##### herself about their proposed downsizing. Thats not general knowledge yet, but there is major trouble coming next year.
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Old 11-26-2008, 07:17 PM   #3
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Default Re: Woolworths is finished

I remember when Woolies was a saviour to folk with small incomes!
They still do good bargains - shop there NOW!!!
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Old 11-26-2008, 07:40 PM   #4
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Default Re: Woolworths is finished

MFI just announced they are going into insolvency and has called in people to manage its affairs.

Thats proper doomy outlook that is.
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Old 11-26-2008, 07:51 PM   #5
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Default Re: Woolworths is finished

No more Pick N' Mix then?

Noooooo....
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Old 11-26-2008, 07:57 PM   #6
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Originally Posted by dayzero View Post
No more Pick N' Mix then?

Noooooo....

Such flippancy when 22 thousand people face unemployment.

You must have a 'non-job' that takes from the public purse and provides a gold plated pension what ever the economic climate.

Nice to see such sympathy.
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Old 11-26-2008, 08:42 PM   #7
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Default Re: Woolworths is finished

Woolworths owns 40% of the DVD production house 2intertain. BBC Worldwide owns the other 60%. Right now BBC Worldwide is trying to get permission from the BBC Trust for £100 million to buy out Woolworths' share before it goes into what we call bankruptcy in the US and possible take 2intertain with it.
Bill "the Doctor"
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Old 11-26-2008, 09:12 PM   #8
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Default Re: Woolworths is finished

the list will be as long as your arm.. im quite certain most people on here do not understand what economic implosion means.. that means almost the end of retail.. how about the entire world car industry bankrupting and all houses thusly will not be bought or sold.. i thought we were all ready and geared up for the final throws of the illuminati satanic death system.. the end of the world as we know it now wont be an easy ride..

i expect tesco to shut half of its stores asda to folow suit ect ect.. nasty for the sheep but we are ready to deal with this are we not??? all my money from now is going on food stocks.. i want at least 2 years worth of food stored by february.
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Old 11-26-2008, 09:27 PM   #9
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Default Re: Woolworths is finished

Yea I know what your saying but it's still a shock to see wollies go down, wollies is one of my childhood memories, it's always been there.
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Old 11-26-2008, 10:48 PM   #10
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Default Re: Woolworths is finished

I'll wager that Marks and Spencers close a third of their stores after christmas, Morrisions will do like wise as a 'dire economic warning' is broadcast and people truely wake up to the fact that 2009 and onwards is going to be VERY hard indeed.
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Old 11-26-2008, 11:47 PM   #11
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Default Re: Woolworths is finished

Please read this information and verify if you need to buy!

Do not buy Gift Cards for these stores - they are closing! This was
aired on TV
Pass it on....

It seems there are lots of stores that are closing due to the
"recession" and the fact that people are not shopping. If you have any
"gift cards" from these stores, make sure you use them, or you will lose
them !

Watch those store money cards and gift cards.. and credit slips! Stores
that informed the Security Exchange of closing plans between October
2008 and January 2009. PLEASE PASS THIS ON TO ALL YOUR FAMILY AND
FRIENDS.


Circuit City stores... most recent (? how many)

Ann Taylor- 117 stores nationwide are to be shuttered

Lane Bryant,, Fashion Bug ,and Catherine's to close 150 store nationwide

Eddie Bauer to close stores 27 stores and more after January

Cache will close all stores

Talbots closing down all stores

J. Jill closing all stores

GAP closing 85 stores

Footlocker closing 140 stores more to close after January

Wickes Furniture closing down

Levitz closing down remaining stores

Bombay closing remaining stores


Piercing Pagoda closing all stores

Disney closing 98 stores and will close more after January.

Home Depot closing stores in New Brunswick


Linens and Things closing all stores

Movie Galley Closing all stores

Pacific Sunware closing stores

Pep Boys Closing 33 stores

Sprint/ Nextel closing 133 stores


Ethan Allen closing down 12 stores.

Wilson Leather closing down all stores

Sharper Image closing down all stores

K B Toys closing 356 stores
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Old 11-27-2008, 12:56 AM   #12
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Default Re: Woolworths is finished

Yeah it is a shame Swanny because I remember woolies from when I was a lad too. It's terrible news for the workers especially. I'm surprised someone isn't ready to buy it up. Positioned properly these traditional brands would prosper in times like this because presented correctly they imply safety and reassurance.

I don't believe there will be economic chaos next year. The banks believe it or not are sitting on piles of money and mergers and aquisitions are being allowed that would normally never happen.

At the BIS they're talking in terms of what have we learned etc not what are we going to do.
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Old 11-27-2008, 01:08 AM   #13
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Default Re: Woolworths is finished

Quote:
Originally Posted by PodWORLD View Post

At the BIS they're talking in terms of what have we learned etc not what are we going to do.
Hahahahahaha

Not at you, but at the 'what we learned' comment. They haven't learnt anything, the banks and businesses are begging with caps outstretched, housing and mortgages are in free fall and businesses are going bust faster than they can recall in recent times.

This is just the tip of the ice berg, and there is worse to come.
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Old 11-27-2008, 01:23 AM   #14
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Default Re: Woolworths is finished

You're right Sol that the banks are asking for money. That's because if they ask for it they'll probably get it. They're also losing money on it. They borrow at LIBOR and then put it in the ECB earning a lower rate. I think the interest rate cut from Brown was part of a political war between him and the banks to force them to lend the money because it would cost them more to keep it. I think it's a disgrace that these guys are keeping there jobs when clearly they were not only lying to us but each other. Madness.

Just my opinion and opinions are still free. Well until subscriptions start.
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Old 11-27-2008, 02:21 AM   #15
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Default Re: Woolworths is finished

Quote:
Originally Posted by PodWORLD View Post
You're right Sol that the banks are asking for money. That's because if they ask for it they'll probably get it. They're also losing money on it. They borrow at LIBOR and then put it in the ECB earning a lower rate. I think the interest rate cut from Brown was part of a political war between him and the banks to force them to lend the money because it would cost them more to keep it. I think it's a disgrace that these guys are keeping there jobs when clearly they were not only lying to us but each other. Madness.

Just my opinion and opinions are still free. Well until subscriptions start.

ROFL

'well until subscription starts'... dammit I was trying to drink my tea not irrigate my nasal passage ...

and i agree 100% with you. The banks are playing dirty and the Gov should of just sadi 'right, you all failed, you all went bust, nationalised and then sorted out.

People say that would make it worse, but if the Bank of England actually belonged to us and not a private company...
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Old 11-27-2008, 11:26 AM   #16
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Default Re: Woolworths is finished

Quote:
Originally Posted by pineal-pilot-in merkabah View Post
the list will be as long as your arm.. im quite certain most people on here do not understand what economic implosion means.. that means almost the end of retail.. how about the entire world car industry bankrupting and all houses thusly will not be bought or sold.. i thought we were all ready and geared up for the final throws of the illuminati satanic death system.. the end of the world as we know it now wont be an easy ride..

i expect tesco to shut half of its stores asda to folow suit ect ect.. nasty for the sheep but we are ready to deal with this are we not??? all my money from now is going on food stocks.. i want at least 2 years worth of food stored by february.
good for you pineal dont forget them seeds and colloidal silver stocks
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Old 11-27-2008, 05:03 PM   #17
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Default Re: Woolworths is finished

Is this the same Woolworths that used to operate stores in the US? That chain went out of business over 10 years ago.
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