Thursday, November 20, 2008

Red Woodward in bid for Woolies

Winter Sale: 820 Woolworths stores for just £1

"Woolworths is likely to get just £1 for its loss-making 800-store chain. The decision to seek a buyer for the shops in mid-November reveals that the chain is dangerously close to bankruptcy. It makes 90% of its profits in the six weeks before Christmas and should be raking in cash at this time of the year, selling Christmas goods and toys." (Guardian)

Willesden Herald proprietor and business typhoon Red Woodward is believed to be a serious bidder for Woolworths. The 820-chain store is up for sale for £1 and Woodward believes he can leverage the equity in his publishing empire to rescue this iconic high street brand. "The first thing I'll do will be to bring back the soft ice cream and Oxford Lunch fruitcake. I believe the store has lost its way since it stopped offering those items, and I am the man to put it back on track", said Woodward in an exclusive interview with the Willesden Herald. "And I'll be the first customer for those items as well," added well-built Woodward.

Feargal Mooney

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