[UKBusinessLive]

Originally Posted by lasto

no one deserves to lose their jobs but if they where bailed out then they would go under a few yrs down the line as it would not address why they got into this problem in the 1st place.Shame to see the workers lose jobs but in time they can be retrained to do something else.
Also lets not forget,about all the other firms that are owed money by this big mega company - dont they count because they are smaller,because they certainly aint going to see any of their money now are they so their workforce will proberly be fired.

Bye woolies - crap store anyway.You served your time now you`ll be replaced by `Pound shops`

In a funny sort of way i think Lasto is about right, Woolies had 800 stores and 33,000 employee's and owed ?350,000,000 in debt, if you lent money or goods to the store you'd be worried about getting paid, At the end the only solution was to sell everything, the stock, shelves and displays and finally the stores themselves.

Yes 33,000 people are out of work but the blame lays on the management, and this just can't be blamed on the current credit crunch, This has been going on for years, Its only been since the credit crunch that they realise that they just couldn't go on any more.

Say we didn't have a world credit problem then they may of been able to drag out a couple of years and millions more in debt.

The Credit Crunch has definately seperated the weak from the strong.



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Originally Posted by Marco van Herwaarden

I thought the pound wouldn't buy you anything anymore these days.

Sadly the coin will buy you less abroad than it used to. A ?1 is pretty much worth the same as one euro, after sterling lost 25 per cent of it's value against the currency in the past 12 months alone.