1-DEC-2008

http://news.bbc.co.uk/2/hi/business/7751064.stm

主要死因:
1. Rental
http://www.wsws.org/articles/2008/dec2008/ukre-d01.shtml
"Another factor in the collapse of Woolworths is that it did not own its stores but leased them. In August 2001 the decision was taken to "demerge" the retailer from Kingfisher, its previous owner. This involved the sale-and-leaseback deal for 182 Woolworths' stores in return for £614 million of cash, which was paid back to Kingfisher shareholders. Over the past decade Woolworths' rent liabilities increased from £70 million to £160 million.
Tony Shiret, an analyst at Credit Suisse, said this week that Woolworths' lease-adjusted debt was the highest in the retail sector and "they didn't really have enough cash flow to cover debt repayments".

2. Shelfing layout 唔掂, d 野再平再靚都冇用
http://news.bbc.co.uk/2/hi/uk_news/magazine/7741199.stm
3. 退休金
http://news.bbc.co.uk/2/hi/business/7566429.stm

個故仔會係點就冇人知,因為都有唔小人想買佢d 靚location stores.........不過肯定係一定會俾人分
http://www.ft.com/cms/s/0/af12c880-bdb7-11dd-bba1-0000779fd18c.html


P.S. F.W. Woolworths, a subsidiary of its US parent, was founded in the UK in 1909. The first store opened in Liverpool. 就係第99年執, 過唔到一百................