Restructuring Woolworths Group Plc. - The Attempt that Failed
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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
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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.
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Excerpts Contd...
Woolworths in the Red
Woolworths reported a half yearly loss of £ 90.8 million for the first half of 2008-09, as against £ 64.3 million in the corresponding period of 2007-08. Retail sales declined by 5 percent from £ 695.6 million in the first half of 2007-08 to £ 660.7 million in the first half of 2008-09 and third party sales of the entertainment wholesale and publishing business also declined by 1 percent to £ 416.8 million during the first half of 2008-09. While both divisions posted operating losses, the group adjusted net loss posted was mainly on account of the loss recorded by the retail division during the first half of £ 59.2 million in 2007-08 and £ 75 million in 2008-09...
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The Aftermath
Some analysts debated whether businesses like Woolies and EUK that had vast potential, could have been turned around if they had been handled judiciously. Ardeshir Naghshineh, Woolworths' largest shareholder that held 10 percent equity stake in the company, too felt that the closure of Woolies was
"unnecessary."...
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Exhibits
Exhibit I: Financial Highlights of Woolworths Group Plc.
(2001-08)
Exhibit II: Interim Financial Highlights of Woolworths Group (26 Weeks Ended on
August 04, 2007 and August 02, 2008)
Exhibit III: Net Debt Obligations of Woolworths Group (As Of February 02, 2008
and August 02, 2008)
Exhibit IV: Chart Representing Segment Revenues of Woolworths Group (26 Weeks
Ended On August 04, 2007 and August 02, 2008)
Exhibit V: Financial Highlights of Woolies (2005-08)
Exhibit VI: What Woolies Meant to the British
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