Restructuring Woolworths Group Plc. - The Attempt that Failed
|
|
ICMR HOME | Case Studies Collection
Case Details:
Case Code : BSTR323
Case Length : 19 Pages
Period : 2001-2008
Pub Date : 2009
Teaching Note :Not Available Organization : Woolworths Group Plc.
Industry : Retail
Countries : UK
To download Restructuring Woolworths Group Plc. - The Attempt that Failed case study
(Case Code: BSTR323) click on the button below, and select the case from the list of available cases:
Price:
For delivery in electronic format: Rs. 300;
For delivery through courier (within India): Rs. 300 + Rs. 25 for Shipping & Handling Charges
» Business Strategy Case Studies
» Case Studies Collection
» Business Strategy Short Case Studies
» View Detailed Pricing Info
» How To Order This Case
» Business Case Studies
» Area Specific Case Studies
» Industry Wise Case Studies
» Company Wise Case Studies
Please note:
This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
|
<< Previous
Introduction Contd...
Its debt obligations stood at £ 342.5 billion as on August 02, 2008 (Refer to Exhibit I for financial highlights of Woolworths Group Plc between 2001 and 2008, to Exhibit II for interim financial results for the 26 weeks ended August 02, 2008, and to Exhibit III for the Group's net debt obligations as on February 02, 2008, and August 02, 2008)4.
It had rejected offers from a number of buyers including Iceland Foods5 in August 2008 while its bankers rejected a take-over by Hilco UK Limited.
|
|
After going into administration, Woolworths failed to achieve a turnaround in December 2008 in its peak sales season. On December 27, 2008, the first set of 200 Woolies stores were closed down with the rest scheduled to close by January 06, 2009.
In the process, 25,000 workers from Woolies and another 5000 from the EUK lost their jobs.
Woolworths had started its independent operations as a retail and entertainment company in 2001. When it demerged from its parent concern, the Kingfisher Group Plc6, in August 2001, it inherited a debt of £ 200 million and costly lease agreements and stock positions...
Excerpts >>
|
|