It all seems ‘a bit mad’(to quote Father Dougal) that Woolworths have gone into administration due to supermarket competition when their Entertainment UK division wholesales Tesco, Morrisons and W H Smith with the same goods they retail!
Entertainment UK turns over nearly £1.5 billion and can’t make a profit!
Woolworths turnover is almost £3 billion.
They also spent a small fortune on IT in 2007 (see link http://www.bcs.org/server.php?show=ConWebDoc.12117)
Once again, just like in the banking industry, the people at the top are to blame. They lost direction and mismanaged the company. But unlike they banks ‘we’ will not be bailing them out.
So now the vultures (and dragons) are circling .The debt of just under £400 million is a drop in the ocean to Tesco/Asda and would enable them to gain some very prominent high street stores via the ‘back door’. These companies are constantly looking for avenues to increase turnover.
I know Woolworths is not a ‘local’ trader but it has employed local people for many years and with the local traders they have traded side by side and they all have helped sustain a centre in this small isolated town.
Would it be good for the town if we had a ruthless dominant retail outlet on our main street?
If the big boys move in …………… well, they say that’s progress!







