Pick n'mix is in the shitter

Thread: Pick n'mix is in the shitter

  1. CzarJunkie's Avatar

    CzarJunkie said:

    Default Pick n'mix is in the shitter

    Woolworths shares are suspended


    Woolworths has had a presence on the UK High Street for almost a century

    Shares in troubled retailer Woolworths have been suspended as the firm continues talks to rescue the business.
    Woolworths said in a statement that it was in discussions over the potential sale of its 840 stores.
    The firm added that it was also in talks to sell its 40% stake in publisher 2 Entertain to BBC Worldwide, which already owns the other 60%.
    It warned that both deals needed the backing of its banks, and "there can be no assurance" they would be completed.
    Significant debts
    Restructuring firm Hilco is said to want to buy the stores, but has so far refused to comment on the speculation.
    According to reports, Hilco has offered to buy the shops for 1, but so far cannot reach agreement on how much of Woolworth's 385m debt it will take on.
    Without some form of a deal, analysts say Woolworths faces the real risk of going into administration.
    However, earlier this week the firm's largest shareholder - property tycoon Ardeshir Naghshineh - called on Woolworths to delay plans to sell the parts of the business.
    Instead Mr Naghshineh said the firm should instead look at making money by selling of some of its outlets.
    Long history
    Shares in Woolworths have fallen by more than 90% over the past year as concerns over its future have risen.
    In September, the firm reported a record first-half pre-tax loss of 90.8m and scrapped its dividend to shareholders.
    In August, it rejected a takeover bid of 50m for its 815 stores from a group headed by the founder of the Iceland frozen food chain, Malcolm Walker.
    Woolworths has been a fixture on British High Streets for almost a century, and currently has a workforce of 30,000.
    In addition to the stores and its 40% stake in 2 Entertain, it runs distribution business Entertainment UK.
    BBC Worldwide is the BBC's commercial arm.



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  2. tips's Avatar

    tips said:

    Default Re: Pick n'mix is in the shitter

    It's a sorry state of affairs thats for sure, things look very bleak for them, and im glad that I don't have WLW in my portfolio.

    Be a shame if they go to the wall though. I wonder if Gordon and Alistair will come to their rescue also? Maybe not.
     
  3. DJ Overdose's Avatar

    DJ Overdose said:

    Default Re: Pick n'mix is in the shitter

    It's because of BOYY and his mates, screwing them out of all those 360's.

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    DJ OD
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  4. CzarJunkie's Avatar

    CzarJunkie said:

    Default Re: Pick n'mix is in the shitter

    Quote Originally Posted by tips View Post
    It's a sorry state of affairs thats for sure, things look very bleak for them, and im glad that I don't have WLW in my portfolio.

    Be a shame if they go to the wall though. I wonder if Gordon and Alistair will come to their rescue also? Maybe not.
    We should start a 'Save our fucking Pick 'n Mix' campaign. Who's with me?
     
  5. LFC Muppet's Avatar

    LFC Muppet said:

    Default Re: Pick n'mix is in the shitter

    Quote Originally Posted by CzarJunkie View Post
    We should start a 'Save our fucking Pick 'n Mix' campaign. Who's with me?
    Count me in, when I was a lad my mam always took me to Woolys
     
  6. Mickey's Avatar

    Mickey said:

    Default Re: Pick n'mix is in the shitter

    Quote Originally Posted by CzarJunkie View Post
    We should start a 'Save our fucking Pick 'n Mix' campaign. Who's with me?

    Twiddles thumbs on that one
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  7. Mooncat's Avatar

    Mooncat said:

    Default Re: Pick n'mix is in the shitter

    My cousin took out the pick and mix counter in Woolies in the early 90's when he lost control of the car he was in and crashed through the front window of the store.
     
  8. DJ Overdose's Avatar

    DJ Overdose said:

    Default Re: Pick n'mix is in the shitter

    Quote Originally Posted by CzarJunkie View Post
    We should start a 'Save our fucking Pick 'n Mix' campaign. Who's with me?
    We could tie ourselves to the pick and mix till with liquorice laces...

    No wait, that's a bondage fantasy.


    DJ OD
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  9. liveseytowers's Avatar

    liveseytowers said:

    Default Re: Pick n'mix is in the shitter

    Lets hope it stays open until xmas as they have some good deals on kids toys!
     
  10. evilsatan's Avatar

    evilsatan said:

    Default Re: Pick n'mix is in the shitter

    I think I only ever go in there for pick and mix or a drink if I'm passing. It is a shame but supermarkets offer a lot of it for cheaper and high end users go to specialist stores. Argos was having problems a year or two back and it was put down by some to their diverse range.

     
  11. whatnow's Avatar

    whatnow said:

    Default Re: Pick n'mix is in the shitter

    wollys stores are for chavs, they're dirty, badly managed and all in a poor state affairs. They're only grace is that nearly every high street in every town in this country has one in a prime location, but partially only because they took on so much debt through the years to buy such locations. They then failed to keep their stores fresh, their employees sharp and their products of good quality.

    Bad business is bad business, regardless. I'd have never backed these in my portfolio and two people I know did, one ducked out a few months ago and the other one has sucked in the loss to see what happens.
     
  12. CzarJunkie's Avatar

    CzarJunkie said:

    Default Re: Pick n'mix is in the shitter

    Quote Originally Posted by DJ Overdose View Post
    We could tie ourselves to the pick and mix till with liquorice laces...

    No wait, that's a bondage fantasy.


    DJ OD
    Dirty cunt, I hope they go bust now. You've soiled it for me....
     
  13. DJ Overdose's Avatar

    DJ Overdose said:

    Default Re: Pick n'mix is in the shitter

    Quote Originally Posted by CzarJunkie View Post
    Dirty cunt, I hope they go bust now. You've soiled it for me....
    Dirty cunt's, soiled liquorice laces, going "bust", bondage fantasies...

    Woolies has it all!


    DJ OD
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