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

Doobdonk

photome wrote: »

BUT why should the government do something? Woolies management should have done something over the years to make the business profitable!

Why SHOULDN'T the government do something? Why did they bail out the banks? Why throw millions to attempt to kickstart lending whilst sit by and watch 30,000 lose their jobs. Who makes the rules? And it wont stop there, the snowball effect will be huge, suppliers, small stores on small high streets, massively increased uncertainty and reduced job security.

Zavvi will doubtless follow suit, with debts of over £100 million to E-UK Woolies sub, they've already called in help and if they can't pay the debt they'll be down the pan. That's another 2500 on the dole queue.

Where do you want it to stop?


BUT at least the banks got their money. Sitting pretty. Resume lending, although there's 30,000 people more that'll me unable to borrow because the governnment actually doesn't care about real people. 30,000 on the dole, that's £95million JSA over a year give or take, plus council tax paid, plus rent paid if applicable, plus other costs in benefits, and that's not even taking into account that most of the staff at Woolies work there because they want to work.

Sainsburys, Tesco, both owing £25 million to E-UK according to The Times Online. Disgusting.


And my completely off topic question. Why do we call it a democracy when it's only truely democratic once every four or five years.

harryhound

sweep9 wrote: »

At my new place of work, it was sad to see Woolies branded items now arriving (I now work for one of the Bargain chains, it's Madness ) . Boxes of Worth It chocs at 49p. Pic'n'mix Dolly Mixtures for 99p etc.

Which bargain chain would that be?
I don't think we have a branch of Madness.
This probably explains why the discount on confectionery is only 10% - there is someone else prepared to take it all off the liquidators hands.

harryhound

Doobdonk wrote: »

Sainsburys, Tesco, both owing £25 million to E-UK according to The Times Online. Disgusting.

[ I tend to agree, German companies tend not to do this they are more "cash on the nail" but here is the UK it is a power game. A subsidiary for GEC (UK) with whom I used to deal, had a section whose sole job was to NOT pay its bills, but keep the sucker suppliers delivering]


And my completely off topic question. Why do we call it a democracy when it's only truly democratic once every four or five years.

[Minority "Elected dictatorship"? There was a superb episode of "Yes Minister" where they all discussed setting up a real democracy and decided it was a really bad idea, mainly because it would make them more accountable]

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oilit

Totality wrote: »

DSG (Currys, Dixons, PC World) are in trouble. Don't see them going under as their online operations are decent, but I can see them closing some stores and cutting jobs in the New Year.

Expensive television leads (that make no difference) and five-year warranties just aren't being bought as much, and they make a lot of profit from them.

DSG is in real trouble, minimum of three shops per major town, and bestbuy are coming - big warehouses with all goods in one store = lower cost base, less running around for custoemrs = bye bye DSG (thank gawd I say as they are rip off merchants)

photome

Doobdonk wrote: »

Why SHOULDN'T the government do something? Why did they bail out the banks? Why throw millions to attempt to kickstart lending whilst sit by and watch 30,000 lose their jobs. Who makes the rules? And it wont stop there, the snowball effect will be huge, suppliers, small stores on small high streets, massively increased uncertainty and reduced job security.

Zavvi will doubtless follow suit, with debts of over £100 million to E-UK Woolies sub, they've already called in help and if they can't pay the debt they'll be down the pan. That's another 2500 on the dole queue.

Where do you want it to stop?


BUT at least the banks got their money. Sitting pretty. Resume lending, although there's 30,000 people more that'll me unable to borrow because the governnment actually doesn't care about real people. 30,000 on the dole, that's £95million JSA over a year give or take, plus council tax paid, plus rent paid if applicable, plus other costs in benefits, and that's not even taking into account that most of the staff at Woolies work there because they want to work.

Sainsburys, Tesco, both owing £25 million to E-UK according to The Times Online. Disgusting.


And my completely off topic question. Why do we call it a democracy when it's only truely democratic once every four or five years.

Short answer is

We need banks.

We dont need Woolies, or Zavvi. Sad but true.

liney

School Uniform was all half price in Telford. Picked up enough trousers for the next 3 years for £1 and £1.50 each for the stain guarded ones. Worth a look for that.

rchddap1

Agree that DSG are in big trouble. Half the problem is that they sell high ticket, luxury items. In today's climate who is going to go out and buy a brand new tv or pc from them? Add to that the fact that their prices have always tended to be on the high side. Then the advent of discount stores, and the internet and they have serious issues.

When zavvi put the message on their website saying that a lot of items can't be sourced...when no-one else online did (can't remember anyone else)....that was a clear indication that they're having some issues.

I'm sure the likes of Tesco won't have any issues with 25 million.

But I suspect we can expect more stores / companies to go down the pan.

biglugs

And my completely off topic question. Why do we call it a democracy when it's only truely democratic once every four or five years.

Don't be foolish - we do NOT live in a democracy. Less than 23% of the adult population voted for Tony Blair's government, and NONE of the adult population voted for Gordon Brown's.
Unfortunately photome is right - we need banks, but Woolies is just a 'nice to have'. What will be sad though is if the government let Woolies go, but step in to save the car industry like they are doing in the USA.

GaryS

Most of the staff at my local store were very pleasant yesterday, I spoke to the lady on the till and told her not to worry too much, there is no point in making yourself ill with worry. (I find out on Monday if i have kept my job in a recent company reshuffle, so I know how they are feeling).

The prices however seem to vary a lot, some items are now dearer in the sale than they were 3 weeks ago in another store.
The DVDs etc are still overpriced even with a discount, but that is part of the problem Woolies has had.

Woolies have been priced out of the market, and have failed to adjust to keep up.
It is the shop floor staff who will suffer most, it always is.

kaya

Technicly we don't live in a democracy, as we have a Monarchy, and you cant have both