Guest 645- Registered: 12 Mar 2008
- Posts: 4,463
11 December 2008
06:4610793This mornings press and internet news are full of a closing down sale at ailing retailer Woolworths.It is getting under way today I think. Obviously Dovers employees are worried about their jobs together with around 25,000 jobs.
Christmas shoppers are expected to descend on the chain's 813 stores nationwide in droves to take advantage of what could be some hefty price cuts for toys, entertainment and other items.
Woolies' administrator Deloitte announced the sale on Wednesday after saying it had so far failed to find a buyer for the struggling firm.
Deloitte warned that some stores could close before the end of December if no offers for the business emerged.
Marek
I think therefore I am (not a Tory supporter)
Guest 640- Registered: 21 Apr 2007
- Posts: 7,819
11 December 2008
06:5710794Yes Marek it is reportedly going to be a BIG sale, some real half price bargains. Not sure if these huge bargains will stretch to toys at the moment but worth a look.
Other high street retailers are quaking in their boots more than a bit at the prospect of the Woolies Sale, as many feel it will surely take spending away from them. But good bargains for the consumer.
Guest 650- Registered: 12 Mar 2008
- Posts: 542
11 December 2008
16:0010820Our Woolworths here (a very big one) now has a notice outside saying that it will close at 6pm on Saturday. It was extremely busy in there.
There was some 50% off children's clothing, and 40% off wrapping paper, but most items were just 10% down. This is the complaint that a number of people have made over the past few days - that the signs look as though they are saying 50% off, but when you get a bit closer and can see the small letters, they really say "up to" 50% off.
It was quite a shock to see last night on the news that there was to be a closing down sale. Someowho Woolworths is one of the places you can't quite imagine it happening to. At least - I couldn't.
Good luck indeed to all the staff. What a miserable thing to happen, and right at this time of year too.
Guest 675- Registered: 30 Jun 2008
- Posts: 1,610
11 December 2008
16:5010822One complaint I have heard is that those prices that were reduced have been restored to full price then reduced by 10 percent. The worry has to be that, with everyone rushing in there for bargains what will it do to all the other smaller shops that rely on the Xmas boost. Could lead to bad news for some of them in the new year.
Politics, it seems to me, for years, or all too long, has been concerned with right or left instead of right or wrong.
Richard Armour
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
11 December 2008
18:5810834i refuse to buy anything in there at present, the faster the stock goes the sooner the staff are signing on the dole.
having said that, i can understand parents taking advantage of being able to buy toys for the kids that they may not have been able to afford before.
Guest 653- Registered: 13 Mar 2008
- Posts: 10,540
12 December 2008
07:2310856The sadness of the staff being laid off and the closure of one of Britains best known and loved stores, will leave more than a great big hole in the hearts of people, but also in the High Street(s) - Dover's especially.
I agree, the more people shop in Woolies which is closing, will mean less people shopping elsewhere.
Good Luck to the staff, hope they get new jobs soon.
Roger
Guest 645- Registered: 12 Mar 2008
- Posts: 4,463
12 December 2008
09:4110872I heard tell that Iceland may be snapping up 50 of Woolworths High St stores at rock bottom prices in order to make their frozen food chain more high profile.
Anything is better than a charity shop to save homeless unemployed special export swilling single greyhounds from the glue factory.
Marek
I think therefore I am (not a Tory supporter)
Guest 651- Registered: 12 Mar 2008
- Posts: 5,673
12 December 2008
18:3010902I can see Wilkinsons benefiting from this and getting some prime sites and a knockdown price !
Been nice knowing you :)
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
12 December 2008
20:2310909i think that wilkinsons will be favourites, cannot see any other business looking for larger premises at this time.
Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
12 December 2008
20:3110910i have read somewhere recently that wilkinsons have no plans to come to dover at the momment.
Guest 645- Registered: 12 Mar 2008
- Posts: 4,463
18 December 2008
07:0811094The death knell for historic retailer Woolworths was sounded as administrators confirmed all its stores would close by January 5, at the likely cost of 27,000 jobs.
All Woolworths' stores will shut by January 5, administrators confirmed Woolworths, which has been a feature of Britain's high streets for almost a century, will begin shutting its doors on December 27, when the first 206 of its 807 stores will close.
Administrators Deloitte said this would be followed by another batch of 200 on December 30, 200 on January 2 and the final closures by January 5.
Apparently Woolies intend to clear 500 million more items of stock with cuts of up to 60%.
It makes one wonder..500 million items sold at say an average price of £3 would raise sufficient capital to repay their £385 m debt and still leave some change
Marek
I think therefore I am (not a Tory supporter)
Guest 640- Registered: 21 Apr 2007
- Posts: 7,819
18 December 2008
08:0311096The problem with Woolworths is that their debt is too large. Other retailers have looked at it, it was on offer for a £1, and cannot see a way either to pay off the debt and/or continue to make money. Its a great pity that the management let them get into that state in the first place. Once you spiral that far down your goose is cooked.
The sad thing for all of us is that its going to leave a very big black hole in the middle of Dover's shopping precinct. I was over there parting with cash yesterday, and incidently saving a good few bob with the vat reduction, and was visualising Woolworths gone. Prospect is very bad. There are other shops very empty right there too with other retailers very slow to take up trading here in Dover. Sad and bleak at the same time.
Guest 645- Registered: 12 Mar 2008
- Posts: 4,463
18 December 2008
08:2611097A good buy from Woolies at present is 250 sheets of Premium A4 paper less than £1.60p a packet.
Marek
I think therefore I am (not a Tory supporter)
18 December 2008
08:3411100Marek if you are in there before tomorrow can you get me 4 packs hun??
Thanks hun
Guest 653- Registered: 13 Mar 2008
- Posts: 10,540
18 December 2008
08:5011103I thought a ream was 500 sheets and Tescos sell them for £1.74 (at least that was the cost last time I bought some).
Roger
Ross Miller
- Location: London Road, Dover
- Registered: 17 Sep 2008
- Posts: 3,695
18 December 2008
09:5911105Not quite true Paul
Hilco offered £1 for all the stores and was prepared to also take on all property related debts (e.g. unpaid rents etc.), however the consortium of banks were not interested. It appears that they would rather take a hit for £385m than recover some of the money; perhaps because they can write it off against government funds?
"Dream as if you'll live forever. Live as if you'll die today." - James Dean
"Being deeply loved by someone gives you strength,
While loving someone deeply gives you courage" - Laozi
Guest 645- Registered: 12 Mar 2008
- Posts: 4,463
18 December 2008
10:2611106Mandie
Wilco. I'll pick them up tonight after school.(Thursday).
Roger
I'd rather buy from the town centre than give any more money to the 'out-of-towners' Tesco's. Sorry just the way I feel as they are partly responsible for killing off most of the towns high streets.
PaulB
The Woolies site would be ideal for a Primark/Matalan type store.I wonder if the council have been on to any of them offering discounted business rates in an attempt to lure more businesses to dwindling Dover.
Marek
I think therefore I am (not a Tory supporter)
Guest 656- Registered: 13 Mar 2008
- Posts: 2,262
18 December 2008
12:0411111Yes Marek, a Primark/Matalan store, now that would be great around here, especially for all the kids/teenagers etc and indeed the jobs it would also create
Guest 640- Registered: 21 Apr 2007
- Posts: 7,819
18 December 2008
12:1511112Marek I agree with you..ideal for Matalan..save me tripping over Broadstairs way for me cheap deals!
However as was pointed out before by the bods that know, it seems the councils cannot offer cheaper rates to seduce business in, as the rates are set by central government, or so we have been told anyway.
Ross didnt know if Hilco did actually bid or just huff and puff around the edges. The real problem at the moment on these massive debts and on the business transactions themselves, involving this level of debt, is the insurance aspect. You cannot get these huge debts insured/covered, the Insurance orgainisations are saying no, remembering Im sure what happened to AiG recently. AiG suffered massive collapse, one of the biggest of all times said the report. This also involves suppliers and so on and its stopping the potential takeover deals going ahead and not just with Woolies. In fact there was an item about this very thing on R4 this morning.
Ross Miller- Location: London Road, Dover
- Registered: 17 Sep 2008
- Posts: 3,695
18 December 2008
13:2211120Paul my sources are adamant that they did place a bid.
I used to work for a trade credit insurer, they insure suppliers against the risk of their customers who buy on credit failing to pay - and whilst they have indeed withdrawn credit from a number of retailers they are actually writing more cover now than they were 12 months ago. On the other hand tenant default insurance is becoming almost impossible to find, if landlords can find it it is exceptionally expensive.
AIG's problems were largely self inflicted as they were issuing Credit Default Swaps (debt insurance for banks, government gilts etc.) on financial instruments they patently did not understand.
"Dream as if you'll live forever. Live as if you'll die today." - James Dean
"Being deeply loved by someone gives you strength,
While loving someone deeply gives you courage" - Laozi