"We will act with integrity at all times and will treat all trading transactions as an opportunity to build sustainable trading relationships for the Group and our trading partners". So says Woolworth's last Corporate Social Responsibility report.
Well, building sustainable trading relationships has proved to be too much for Woolworths PLC in the UK. The BBC reports that Woolies' shops - all 807 of them - will close by January 5th. This could result in the loss of some 27,000 jobs.
Neville Kahn, OF Woolworth's administrator Deloitte is quoted as saying that it is, "clear that the creditors and suppliers will not get paid in full".
The Beeb states that, "A range of food, clothes and 'value retailers' have made offers to take over the leases at about 300 stores".
Should we now prepare for the forthcoming tidal wave of retail disaster as predicted by Don McCabe , joint MD of UK games retailer CHIPS?
Well, building sustainable trading relationships has proved to be too much for Woolworths PLC in the UK. The BBC reports that Woolies' shops - all 807 of them - will close by January 5th. This could result in the loss of some 27,000 jobs.
Neville Kahn, OF Woolworth's administrator Deloitte is quoted as saying that it is, "clear that the creditors and suppliers will not get paid in full".
The Beeb states that, "A range of food, clothes and 'value retailers' have made offers to take over the leases at about 300 stores".
Should we now prepare for the forthcoming tidal wave of retail disaster as predicted by Don McCabe , joint MD of UK games retailer CHIPS?