Downturn for Woolworths

Can it get better for Woolworths? Probably not! Earlier this week it was reported that Hilco (restructuring specialists) were set to pay just £1 for loss-making Woolworth’s retail business. The retailer has debts of £385 million and is at risk of going into administration. The retailer has stopped selling toys online in the run up to Christmas - a key time for selling online! Even John Lewis reported a 20% uplift in toy sales on the back of a general downturn by 8% YOY. The decision is apparenting part of its plans to stop multichannel retailing, seems like a step back not a step forward?

Only time will tell on this one...