Alas poor Woolworths, I knew you well…
Wednesday, December 10th, 2008Well, it looks like Woolworths has finally had its last nail inserted into that red and white coffin of theirs. Woolworths just never seemed to be a company that kept itself upto date, and then they went and thought the answer was moving to a catalogue style system, what idiot thought of that, I hope he/she was booted out shortly after that bad decision.

The website is now no more, and tomorrow the sale starts, essentially its going to be a “get what you can sale” from what I can tell. Once I get there its likely that there will be nothing left but a few bits of dried meat on the carcass of Woolies.
Not sure if I’ll miss Woolworths, it was never fun going into one, always seemed to be about 2-3 tills no matter the size of the store.
EDIT:
Just to backup the comment I made above regarding the Catalogue move, here is a news article dated 20-SEP-2006
Here is the share price of Woolworths compared against the FTSE-100 since 2001:

Good move? Don’t think so. Also, the failing Icelandic banks might have had a big impact on this too seen as not too long ago it looked like an Icelandic company was moving in to acquire Woolworths after securing just over a 6% share.
Thanks to iii.co.uk for the share image.

