Woolworths Share Discussion Threads

[porketh] 29/6/2009 21:41

DoLittle and the likes are parasites.

There'll be a couple of partners there making a mint out of this, pumping up the fee's, sending out a team of clueless grads and a couple of managers to do the work, charging out at 60-70% margins, banging in expenses left right and centre, answering to no one.

I wouldnt be surprised if Johnson went to school with someone at DoLittle's.

The small person suffers again.

[sl33py] 26/6/2009 15:27

We should have invested in Deloittes.

[sharewinner2] 26/6/2009 12:22

£60million in fees. Oh please don't get me started. Ouch!

[uknighted] 26/6/2009 12:21

Of course shareholders are not unsecured creditors.

[whiterussians] 26/6/2009 12:07

Surplus for distribution to creditors - Deloittes have written to unsecured creditors.

They have already taken 60m of fees though together with hillco.

call 0207 936 3000 and ask for form 2.24 B Progress report dated 22 june

[teverish] 25/6/2009 15:22

So what did the High court rule on the 12th? Can't find the outcome anywhere. Was it delayed?

[davy99] 12/6/2009 07:37

Hello Anthony,

not much going on except in the FT this morning, the administrators of Woolworths are today going to the High Court with the BBC to try to get the BBC to pay a decent amount for the 40% stake of 2Entertain that WLW still hold.

Wont make any difference to shareholders but the BBC shouldn't be allowed to get 2Entertain for nothing.

[anthonyjbounds] 11/6/2009 13:21

Hows things Davy - is there anything worth reporting here or is it much th same - going to write an article about clf that looks quite interesting shortly. All the best and dyor obviously !!!!

[fazersix] 29/5/2009 11:09

dutch2 - 29 May'09 - 10:28 - 5995 of 5995

In my opinion the blame lays with the government, all they had to do guarantee woolies credit insurance.

The revenue have lost millions in tax knock on knock on many many times throughout the sysytem from tax to window cleaners, mega mega bucks lost so far and mega more to loose !

[davy99] 24/5/2009 21:12

Dutch2- No it doesn't affect the previous Woolworths or shareholders. Any enterprise will be a new seperate Company.

[dutch2] 24/5/2009 19:21

davy99 - if this deal happens, do you think we (shareholders of WLW), will
get something back ? we should get a little back, surely deloittes, was not expecting this to happen ?

[davy99] 23/5/2009 23:28

Tony Page still trying to open some stores:

[fazersix] 20/5/2009 17:28

sharewinner2 - 20 May'09 - 09:34 - 5990 of 5990

Nice to hear you no more boredmum then lol, it been busy here as well all my 3 children have had babies in the last few weeks 2 boys 1 girl, granpapy again.

Not bought another share since woolies still licking my wounds another mistake nearly bought barclays at 60p urgh wrong again.

Hope you get some zzzzzs soon after your new arival, yes i'm super fine just getting used to my new home i purchased at knock down price. Was unable to sell the other so let it for now nice little earner !

Keeping away from stocks for now sticking with my little property portfolio untill the market recovers.

Good luck with yours and may all your trouble be little ones, the old ones are the best lol.

f6

[sharewinner2] 20/5/2009 09:34

fazersix, just seen yout posting from 6th May. I am well, thanks for asking. I now have a beautiful little boy (10 weeks old), so both him and his big sister (who's 3) are keeping me on my toes.

I did write a little piece for my blog on lse about trusting NAV and what are things really worth. I used Woolworths as my example (they did move about some of my pronounciation which didn't help to clarify points but hopefully the point came across).

I do hope you are well and life is treating you good.

[davy99] 20/5/2009 09:27

F6-Agreed, the Government could have done a lot to help Woolworths continue & keep people employed but at the time they were too busy saving the banks, all other Companies took second place.

[fazersix] 19/5/2009 09:49

Davy99 - 19 May'09 - 08:09 - 5987 of 5987


Davy maybe we should have a government with a back bone to stop this Bish should have said.

Think about the housing benefit,dole,council tax,inland revenue losseses after woolies closed.Loss to localised business transport fuel and bus fares etc, which woolies staff used daily, the tax revenue lost from 30,000 staff must be fanominal and add on the tax from woolies business lost.

All could have been saved if the PM had simply guaranteed woolies credit insurance, after recent news suppose the polititions couldn't be bothered they are to busy renovating their second homes with tax payers hard earned !

[davy99] 19/5/2009 08:09

Excerpt:

08 May 2009 Daily Telegraph

I can't leave without asking Bish-Jones about Woolworths. Is he still sad? Or just angry about the demise of the chain?

"I think Woolworths was a tragedy for the people that were in the business. The employers and the suppliers lost most. They ended up paying the cost," he says, choosing his words carefully.

"I still, to this day, don't understand how two world class businesses – EUK and 2entertain – don't continue to trade today making very healthy levels of profit. That is what they were doing before the business went into administration.

"They were genuinely two very good businesses there. Yet no goodwill was recovered. Perhaps we should have a more American system?" he asks.

[loganair] 17/5/2009 13:03

No fraud.

Remember that Zavvi owed Woolies over £70m and only repaid £40m. I think there was goodwill of £60m. Betrum/THE was worth nearly £50m was sold for less than £10m.

So there alone is around £130m off the NAV. Stock was sold for around 50% of it's true value. Thats another at least £250m off NAV.

These two make at least £380m off the NAV value of Woolies. Therefore the NAV value of Woolies is well into the negative.

Deloittes costs will be £30m plus. Over £400m wiped off the NAV value and so on and so on.

With less than 200 of the 800 plus store leases sold knocks at least another £400m off the NAV value - That makes over £800m off the total NAV value of Woolies or a negative NAV of at least £600m

[fazersix] 06/5/2009 20:07

Vikingwarrier - 6 May'09 - 19:29 - 5983 of 5983

The bottom line woolies credit insurance was pulled causing the collapse then government fail to guarantee it for them leaving tax payers with a massive dole queues etc etc, the rest is history fraud or not investors total loss so far.

Bad news init for all involved good job its not life or death situation !

Good luck f6