Woolworths in talks to sell 800-store chain - for 1£ - HotUKDeals
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Woolworths in talks to sell 800-store chain - for 1£

siddhant4u Avatar
8y, 1m agoPosted 8 years, 1 month ago
it seems we missed this deal at HUKD :P

According to reports, Woolworths - which is famous for its pick 'n' mix - is in discussions with restructuring firm Hilco to sell its 800-store chain for a nominal £1

http://www.guardian.co.uk/business/2008/nov/19/woolworths-highstreetretailers
Other Links From Woolworths:
siddhant4u Avatar
8y, 1m agoPosted 8 years, 1 month ago
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(16) Jump to unreadPost a comment
Comments/page:
#1
Quidco?
#2
Overpriced by 99p.

Hilco has come to the rescue of other retailers this year including, MK One, the discount fashion chain which later went into administration.


Some rescue :lol:
#3
so if I buy it...... then take £2 worth of pick and mix then give away the 800 store chain, I've made a 100% profit on my initial investment!

I should be on dragons den!
#4
MinstrelMan
so if I buy it...... then take £2 worth of pick and mix then give away the 800 store chain, I've made a 100% profit on my initial investment!

I should be on dragons den!


I reckon you'd get lumbered with it :lol:
#5
If WoolWorths £1, then how much does a Sheep cost in this day and age ? ? ?

* Sorry *

Shima
#6
shimagoza
If WoolWorths £1, then how much does a Sheep cost in this day and age ? ? ?

* Sorry *

Shima


Is that you skusey? :thinking:
#7
havent read the link, but did somewhere else, isnt it £1 with 300mil debt, Geez

I bet theres going to be an awful lot of bargains this christmas waiting to be had
#8
T'is a shame. 30,000 jobs - gone!
I feel sorry for them :-(
#9
dontdothatagain
T'is a shame. 30,000 jobs - gone!
I feel sorry for them :-(


as it gone down the pan today then?
#10
Nope. But its likely to happen this week :-(

:cry:
#11
Some people will have a bad crimbo...:-(
#12
blineboy
havent read the link, but did somewhere else, isnt it £1 with 300mil debt, Geez

I bet theres going to be an awful lot of bargains this christmas waiting to be had



was speaking to woolworths staff today and if it is being sold , it is a 385 million debt that goes with it!
#13
They do have £600millions worth of stock so enough to clear the debt but they will just about break even as they are going to reduce alot of the stuff to rid of it
#14
that quid entitles u to there 260 million pound debt as well!
#16
Its a shame really. Hopefully for a quid someone might buy it taking on the debt.

Question is if you paid £360 million allowing for the debt is it still a profit making business?

Several factors killed off woolies.

1. Their credit rating fell.
2. Suppliers demanded money up front hitting cash flow.
3. General economy has hit the floor and no one is spending.
4. Banking crisis mean no one is willing to lend money now.
5. Lower prices and competition on high street made the business unworkable.
6. Woolies lost direction over the years while gradually other firms invaded its market place, Especially supermarkets.

If you look at Dixons, currys and PC world that group is struggling. Major retailer on the high street too. Every clothes store I pass seems to say 20-25% off everything in store.

Perhaps if labour spent less time worrying about the Sun and Mails headlines they might run the economy better. This is a shambles.

MFI after a management buy out collapsed again with the housing market.

We are soon going to be left with a high street of starbucks, subway and lots of clothes stores.

Perhaps Woolies should rename to play.com or amazon. I might buy some pic n mix if they did. :)

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