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[Jay w]

Think they were joking Danny, think Woolies started business selling everything for a £1

Its both......

F W Woolworth's starting selling goods at $1, the store was so succsessful it had spread all over the US and in then they move the operation into the UK with the same premise, all goods were £1, from there Woolies became a household name.

Today there is talk that they will be sold for £1, and as Danny said this would include their debts and liabilities......

[amigov6]

Think they were joking Danny, think Woolies started business selling everything for a £1

Its both......

F W Woolworth's starting selling goods at $1, the store was so succsessful it had spread all over the US and in then they move the operation into the UK with the same premise, all goods were £1, from there Woolies became a household name.

Today there is talk that they will be sold for £1, and as Danny said this would include their debts and liabilities......

'Tis sadly true. You can become Lord Woollies for an "Alan Whicker"............provided you've substantial coin to throw at yet another supermarket victim.
       Seems to be a sign of the times.

[Vamps]

Think they were joking Danny, think Woolies started business selling everything for a £1

Its both......

F W Woolworth's starting selling goods at $1, the store was so succsessful it had spread all over the US and in then they move the operation into the UK with the same premise, all goods were £1, from there Woolies became a household name.

Today there is talk that they will be sold for £1, and as Danny said this would include their debts and liabilities......

Are we sure about this?  Woolworths has been around a long time and a £1.00 in the 60's would have fed a family for a week :-/ :-/ :-/

[Vamps]

Thinking about it this is wrong as I can remember buying stuff in the 60's with my pocket money which was half a crown, perhaps it started as a 1.0d shop.

[dieseldean]

Who Poundstretcher  

if it keeps losing its value the pound will be carried out on stretcher  

[Mr Skrunts]

that £1 purchase would saddle you with debts totalling more than every member of this forum has collectively!!

Think the idea is along the scale of the barings bank collapse.  They have to sell for something, so they do a contract for a £1.  But rather than go zillions in debt I think they just hand over the keys and walk away so to speak.  Other details I dont know like the debts or stock in trade.

[kris9128]

yes woolies is for sale for a £1. for that you would get, 800 stores, 30,000 staff, ownership of a comapny that was started in 1879 and nearly £400 million of debt.  

[waspy]

Who Poundstretcher  

if it keeps losing its value the pound will be carried out on stretcher  

 

[Lizzie_Zoom]

Thinking about it this is wrong as I can remember buying stuff in the 60's with my pocket money which was half a crown, perhaps it started as a 1.0d shop.

Yes Mike Woolies have never been the same since the days of big counters with fascinating bits and pieces everywhere for 1d's!   The old fabulous wooden  fittings and 1920s/30s lighting made the scene complete for me as a child and in the 1950s/60s a lot of my pochet money or birthday present half crowns were spent their!

Happy days!

Now they are just another store on the high street that to me lacks personality, is often tatty, and just does not have that 'special' feel of all those decades ago.

Let them go!!

[Nickbat]

Thinking about it this is wrong as I can remember buying stuff in the 60's with my pocket money which was half a crown, perhaps it started as a 1.0d shop.

Yes Mike Woolies have never been the same since the days of big counters with fascinating bits and pieces everywhere for 1d's!   The old fabulous wooden  fittings and 1920s/30s lighting made the scene complete for me as a child and in the 1950s/60s a lot of my pochet money or birthday present half crowns were spent their!

Happy days!

Now they are just another store on the high street that to me lacks personality, is often tatty, and just does not have that 'special' feel of all those decades ago.

Let them go!!

I'm still sentimental about Woolies. Yes, some of the stores area bit tatty, but I still think they bring something special to the high street.

Don't let them go!


 

[Lizzie_Zoom]

Thinking about it this is wrong as I can remember buying stuff in the 60's with my pocket money which was half a crown, perhaps it started as a 1.0d shop.

Yes Mike Woolies have never been the same since the days of big counters with fascinating bits and pieces everywhere for 1d's!   The old fabulous wooden  fittings and 1920s/30s lighting made the scene complete for me as a child and in the 1950s/60s a lot of my pochet money or birthday present half crowns were spent their!

Happy days!

Now they are just another store on the high street that to me lacks personality, is often tatty, and just does not have that 'special' feel of all those decades ago.

Let them go!!

I'm still sentimental about Woolies. Yes, some of the stores area bit tatty, but I still think they bring something special to the high street.

Don't let them go!


 

 

Who is going to start a poll on this Nickbat?   Woolworth's to go?  /  Don't let Woolworth's go?  

[Lizzie_Zoom]

What Do You Want To Happen To Woolworth's?  I have now started a poll at the top of this thread

[HolyCount]

Buy it for a quid ---- have a massive sell off at a quid an item -- pocket the proceeeds and declare the company bankrupt --- walk away ( provided the directors personal liabilities are limited to a quid also )

Seriously though -- Woollies of the modern day bears no resemblance to the Woollies we all remember .... like to keep it -- but things change  

[Lizzie_Zoom]

Buy it for a quid ---- have a massive sell off at a quid an item -- pocket the proceeeds and declare the company bankrupt --- walk away ( provided the directors personal liabilities are limited to a quid also )

Seriously though -- Woollies of the modern day bears no resemblance to the Woollies we all remember .... like to keep it -- but things change  

Indeed HC, and quite a few high street names will be going in the near future!

With declining gross profit, their operating costs and liabilities will soon produce many negative net profit lines on their balance sheets which cannot be sustained for an indefinate period, which this current financial crisis is set to last for!

Investors will seek actual returns, rather than nought, for their investments, which they will not enjoy in the retail trade for some time to come.

[HolyCount]

Methinks this has not all been caused by the current "crunch" .. but has been a long time coming. We all know the face of the High Street has been changing, largely due to internet commerce. I think that current ecomonic conditions have merely hastened the process.