A sad day indeed...Woolies start closure sale

[Power Lunch Club]

This is a sad day indeed, one of the big high street brands coming to such an end.

BBC NEWS | Business | Woolworths closure sale to start

Was it victim of economic circumstances or was it badly managed in the first instance? It certainly racked up a massive debt, but was still a great shop. The nearest one to me was at the bottom of Leith Walk.

Where am I going to get my Terry Chocolate Orange Segments for my wife!!

 

[Brian McIntosh]

Alison, you're absolutely right; who'll be next? I'm sure there are some big high street retailers sweating over their cornflakes. You've got to feel sorry for the staff. Losing your job is never a pleasant thing but just before Xmas is the worst time for it to happen. When you look at the likes of Brechin, Woolies would be one of the biggest retailers on the high street so when they go that'll be a big loss.

 

[Power Lunch Club]

And you are right guys, ....there are no certainly gurantee's that Sainsbury's or Tesco's take over the site and people get their jobs back.

Would Sainsbury's or these other see it an ecomonically viable when so many people are losing their jobs and the revenues that are lost as a result.

 

[Power Lunch Club]

I popped into Woolies today. My wife wants a Nitendeno brain trainer thing...(have no idea what that is)....but thought I would see if I could get one.

Firstly the queue's were about an hour long....and although big posters advertised a massive 50% discount, most items were discounted at 10-20%

Met two people I knew,...one chap had been sent by his wife to buy clothes for his daughter....and instructed not to come home until he was laiden down with them. I just laughed....with the size of the cue, he's probably still there.

 

[jimbairn]

Look closely at the posters, Gordon. In very small letters it says "UP TO"50% An old trick, but it usually works...

 

[Scottish Business Owner]

I do feel sorry for all the people that have lost jobs but Woolies has been a lame duck for a while and goes some way to explaining why the government would not intervene. I have to agree though that this is only the start of it and just after xmas is gone other victims will emerge I have no doubt.

It's looking pretty unlikely that it will now be rescued and it just goes to show that even businesses who have been established for the best part of a hundred years are not safe in the current climate. More doom is a certainly i'm afraid

 

[stugster]

Could this just be a clever trick by the person taking over the running of Woolworths to shift as much stock as possible before they begin turning it around?

That's my conspiracy theory. Would be nice, in a way.

 

[ScottJ]

I believe they have that much debt they need to turn their stock into liquid funds to do a deal with the banks to write off some of their debts to increase the chances of being bought over.

 

[Scottish Business Owner]

From what i've read today the prospect of a rescue is unlikely. It seems lots of the supermarkets are circling as a lot of the property has permission to sell food. There also seems to be real concerns that they wont be able to restock which i'm sure will be putting many people off. I aslo see today that Zavvi (formerly Virgin Megastores) are also in trouble as they had an exclusive deal the CD & DVD business of Woolworths.

And so the domino effect begins

 

[Power Lunch Club]

I have popped my head in a few time to Woolies in Leith...and it's a sad sight indeed. Lots of shelf laying empty.

Haven't bought anything, algouth with what the wife has spent in presents I feel she has personally paid of Woolies debt!!:001_rolleyes:

It's a big space to fill here in Leith....and is a main focus when you come to the bottom of Leith Walk...I wonder who will take over the space.

 

[Power Lunch Club]

A sad day indeed, that the announcement made of the official closure dates for Woolies...

BBC NEWS | Business | Woolworths gives closure details

Or as I read somewhere over the weekend...

"...There are only 3 shops left until Christmas..." Yes that about sums it up!

 

[Power Lunch Club]

I was in Woolies today, buying my wife her chocolates (life wouldn't be living if I hadn't got them)...and the rest of the stock is now 50% off.

It was quite a sad sight to see, and I know it's a cliche to say it, but Woolies was always a good Christmas brand (I know for the rest of the year also)....and it's where I bought my wife's Choccy's every year.

The shelves laying empty, the racks getting taken down....but it really wasn't that busy. Even with a the massive discount now, and with 2 days left, it just wasn't busy...very sad.

And those poor members of staff...it's heartbreaking to lose your job at the best of time...but at Christmas....flip!!

Good bye Woolies....R.I.P.