Woolworths: Going… gone

Pick ‘n’ mix wasn’t the real problem for Woolworths. A heavy debt burden and leasehold format meant the once iconic UK retail chain was hobbled from the moment of its 2001 demerger from the Kingfisher group. Adding insult to injury, as Woolworths collapses, Kingfisher outperformed expectations. Woolworths had operating problems – from fusty interiors to accusations that underperforming executives were too generously rewarded. Competition from supermarkets hurt. But general merchandise formats ca...