Topher wrote:I was listening to a fella today, can't remember who but he was from some retail association or other and what he said made sense, that if no one buys before Christmas, they could be * because prospective buyers then have to wait a year to make any money back.
It's not strictly true, but to be honest there is no way that anyone would take on that much debt at the present time. There are few with the cash, and even those with the cash to secure the debt, it is going to be tied up. By far a better and more sensible way is to let the thing crash, let the banks take the bad debt, and pick of the brand and the best stores for a bargain (almost always current or recent past executives will be part of this, they know where the value in a business is) If a company fails, then at least the Gov't will make sure proper redundancy gets paid.
Some of the brands which Woolworths owns (Chad Valley, ladybird, etc) have got to be worth something.
The head office near Euston has got to be worth a shilling also.
A number of shops selling CD's, DVD's, sweets and saucepans in the Internet generation probably worth very little. Childrens cloths, games, and lunch boxes aligned with a "pound shop" mentality (which was there basic founding premise) I could see working. Realistically the only person capable of running that set up would be Philip Green, but I am not sure he would risk spreading himself that thinly when he obviously has to focus on what he currently has. I bet he's got people working in it though, just in case it's at a price too good to miss.
chrismoyles.net
