Woolies - closing down sale tomorrow (11/12/08)

MoneySavingNovice

badmumof1 wrote: »

best of luck for the future maccaandclaire.
just out of interest
deloittee (sp) had the debt paid off within a few weeks and had no intention of letting woolies trade again or anyone else buying the name.
Shame on them but then again they have made a nice 22 million profit from it.

That a serious allegation - and if true makes Deloittee potential in breach of the the laws surrounding Administration. How do you know - or is this just a guess. If you are confident in this you need to go to the Police and make a compliant. If true Deloittee would be likely to go the same way as Anderson

System

vinny41 wrote: »

And to make sure Woolworth can pay the £22,000 per hour that Deloitte will be charging since day 1 of administration

http://www.accountancyage.com/accountancyage/news/2231575/woolowrths-administration

As bad as the £22,000 per hour may sound, a key thing to note is

"The Big Four accountancy firm has devoted 100 staff to the project with the firm's five partners leading attempts to find buyers for the wholesale and retail businesses,"

Deloitte's an accountancy firm and they cost money, the same way a plumber costs money. You can't get them for £6 per hour unfortunately!

As for the comment about Deloitte deliberately running Woolies into the ground, would you be happy if they'd kept it open longer whilst charging another £22,000 per hour?

maccaandclaire

i cant believe im saying this but who actually cares about Deloitte now?? I havent got many nice things to say about them and to be honest its too late now, maybe someone should shut this forum down now :-(

System

But it wasn't Deloitte who got Woolies nearly £400m in debt - that was the fault of the old bosses.

Deloitte may have cost alot and had to take the decision to close, but they were only clearing up the mess the old management had created.

badmumof1

MoneySavingNovice wrote: »

That a serious allegation - and if true makes Deloittee potential in breach of the the laws surrounding Administration. How do you know - or is this just a guess. If you are confident in this you need to go to the Police and make a compliant. If true Deloittee would be likely to go the same way as Anderson

do you really think my local police station ( which is shut on the weekend) is going to be interested in this when they havent even got the manpower to catch local criminals.

poppy10_2

Woolworths to be re-born online

Woolworths is to be re-launched as an online retailer after being bought by the owners of the Daily Telegraph, Sir David and Sir Frederick Barclay.Woolworths' children's clothing label Ladybird is also to be re-born online.

The brands are being bought by Shop Direct Group, owned by the Barclay twins, for an undisclosed sum. They will sit alongside their other online retailers, including Great Universal and Marshall Ward.



The company's chief executive Mark Newton-Jones said he was confident about Woolworths' future.

"This is great news and we are confident that Woolworths, as an online brand, will once again prosper and quite rightly stay at the heart of British retailing."

He said it was hoped to launch the new venture by the summer.
"It would have been a tragedy should the name have disappeared," Mr Newton-Jones said. "It is an iconic name."

deanos

Not very good news im affraid, all they will do is have the same catalogue as Littlewoods, Additions etc and put a Woolworths cover on like they do with all of there catalogues

BFG_2

deanos wrote: »

like they do with all of there catalogues

there catalogues....oh, you mean 'their catalogues'

deanos

:rolleyes: .

Debt_Free_Chick

poppy10 wrote: »

Woolworths to be re-born online

Woolworths is to be re-launched as an online retailer after being bought by the owners of the Daily Telegraph, Sir David and Sir Frederick Barclay.Woolworths' children's clothing label Ladybird is also to be re-born online.

The brands are being bought by Shop Direct Group, owned by the Barclay twins, for an undisclosed sum. They will sit alongside their other online retailers, including Great Universal and Marshall Ward.



The company's chief executive Mark Newton-Jones said he was confident about Woolworths' future.

"This is great news and we are confident that Woolworths, as an online brand, will once again prosper and quite rightly stay at the heart of British retailing."

He said it was hoped to launch the new venture by the summer.
"It would have been a tragedy should the name have disappeared," Mr Newton-Jones said. "It is an iconic name."

Looks like they've just bought the name then :rolleyes:

Nothing wrong with that of course - who'd like to buy the name Apple, for example

But folk will think they're buying "from Woolies" which they're not. Having said that, this deal includes the Ladybird range which I guess is the "jewel in the crown".