Woolworths enter administration

[channel5]

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Who is owed the most in commission?!

BBC NEWS | Business | Woolworths enters administration

[bapages]

Read further down the page to MFI!

[channel5]

This is just the calm before the storm.. banks are keeping most companies alive just till Christmas to get as much cash in as they can before the call in the debts in the new year..

Expect a huge raft of companies to go bust in January.

[DioBach]

Ah well, so much for the Woolies shares I bought last month, lol.

[Barry]

I am sure it will be absorbed by some super multinational company, surely the Woolworths brand is worth something.

What crazy times...

Ta

Baz

[Rocky]

I don't think anyone should underestimate the devastating effect this news will have on Woolworths staff a month before Christmas, as well as the thousands of suppliers and contractors whose jobs will also be lost as a result.

My worst fear though is for the hundreds of high streets in Britain where Woolworths is the sole remaining large store. It is Woolworths that will have attracted people from surrounding districts into town centres, and it is off the back of Woolworths that many smaller high street shops have been able to survive. Many of those small shops will also now go to the wall.

This is undoubtedly good news for internet entrepreneurs, it will certainly drive more people to shop on the internet, but for changing the landscape and habits of millions Britons it is difficult to imagine a more defining moment. 100 years of trading has just come to an end.

RIP Woolworths, and the high street as we knew it.

[Riddys]

I think this may affect Christmas shopping.
People will want the confidence of having what they bought in their hands, not hoping it arrives before another store goes to the wall. So may shop in the high street.
As if sales aren't bad enough, this could make them a whole lot worse!!

Bang goes my woolies shares and owed commission I guess?

[hpops]

My thoughts are with the employees, Woolworths was a staple employer of low-income families, this will come as a deep blow.

[Pete Taylor]

The timing of this is not good for the staff and the business.

Woolworths were always the Christmas place to go as a child and this was always backed up by their annual Christmas TV adverts, that used to be part of everyones Christmas, as much as Top Of The Pops on Christmas day.

For anyone over the age of 40, this will bring back memories YouTube - Woolworths "Christmas Wonderland" UK TV Advert (1982)

[Darren M]

I'm under 40 and I remember that. It's the end of an era, xmas without Woolworths

[Pete Taylor]

I'm under 40

Me too. I should have said 30!

[ash]

They are 'only' in administration, i'd imagine there is every chance of a rescue package / takeover of some sort.

[hpops]

I severely doubt that Woolworths will continue as a high street brand

[djbarker]

scary looking error message on the site at the moment: Untitled

[cycloneuk]

scary looking error message on the site at the moment: Untitled

I agree, wonder if the site will come back online.