The wonder of Woolies

[JaneMBE]

Thousands of jobs are under threat after high street giant Woolworths went into administration.

All 815 Woolworths stores will open for business across the UK.

But the future of the retailer, which has been a town centre fixture for almost 100 years, looks bleak.

Bit of a shock to hear the news this morning. I mean, it's a British Institution, always been there....

 

[Fizz06]

I'll miss their Pick and Mix stand...reminds me of my childhood everytime!!

 

[LynneB]

MFI too, part of which I have to blame on their ludicrous advertising campaign in the Summer "buy from MFI and you too can have a dysfunctional family!" I have to give them credit though, yesterday was pay day for their workforce and they were indeed paid. I have seen many companies go to the wall after a months worth of work from their staff and not pay them a bean. Since some of their stores announced they were closing last month they have had an enormous pick up in trade so the money is out there to spend, I think people are just too afraid to as they do not know if their own jobs are safe enough.

I love Woolworths, I know people say it has not moved with the times, but I think that is what made it special. Now this morning the owner of Currys and PC World is casting down on the survival of these two giants also after they fell to £29m in the red. I hope both MFI and Woolworths can be saved.

 

[JaneMBE]

They say that they can't compete with the likes of the big superstores, Asda etc, that have everything in one place. No need to shop elsewhere.
I find that really sad.
Like with a lot of shops that went, kids wont know of Woolies if they buckle.
I have fond memories of Timothy Whites and the like!

 

[MurphysMinder]

Wow, I had forgotten about Timothy Whites. I agree it is really sad about Woolies. I work in a shop opposite our local Woolworths, I think if Woollies closes people will stop coming to this part of town which will be bad news for us and the other small retailers. The big out of town stores are fast killing off the smaller shops now. Matalan is selling gents trousers at a lower price than my boss is able to buy them from the manufacturers, how on earth are the independents supposed to compete

I am in work today and wondering how the VAT reduction is going to work, I hope I am not going to be spending the day repricing everything

 

[arwenplusone]

Woolworths has been in trouble for about 5 years to be honest so all in all I'm not too surprised. It is a poor business with a haphazard strategy IMO

Also, they haven't paid any of their suppliers so all their warehouse stock is being lifted.

ETA - it is unlikely woolworths will be 'saved' - I think they will just look to sell off their assets.

 

[Divasmum]

Sadly there will be more to follow.

 

[T_K]

Woolies has been in trouble for many years, as has MFI and it's more down to bad management than competition. The good thing is, Wollies are flogging everything cheap ATM - get in there as they may not open again tomorrow!

 

[JaneMBE]

true Divasmum. Sign of the times.
I might just nip up town and see what woolies has to offer, they are the only ones who do my fav sweeties!! (strawberry dreams if anyone wants to buy me some!)

 

[kimmacey]

i am sad about woolies closing as i work there, but the store in milton keynes (the 1 i work at ) isnt selling off things cheap they are just having sales (3 for £2 etc) just like other stores are as its less than a month till christmas

, also they are staying for christmas but they dont know what will happen after that, so its more than likely you will get stuff cheaper from there after christmas.
xx

 

[Tiffany]

I know Woolies have been around for years but they don't seem to ever have had a clear strategy or identity. They try to be all things to all people which doesn't really work. Also, it said on the news they made £28m profit last year and borrowed £300m early this year - what have they done with that money cos they certainly have updated their stores!