RE: Finish22 Aug 2025 17:05
Woolies was nothing like M&S
I spent 11 years at Woolies HQ in Marylebone Road, in various roles from range planning, finance and property.
Too many stores, some oversized but the majority undersized, and in the wrong locations. As high streets failed and the consumer went 'online' , Woolies still thought the high street was King! Far too much experimentation with store formats confusing the consumer and too seasonal with not enough core ranges and too many quirky new products, I remember when we tried to sell the Honda Express moped (as advertised by Twiggy) but didnt have a licence to sell the fuel so people had to cycle them home.
Failure to modernise systems, one of the last on the high street to implement EPOS, and 'Just In Time' replenishment leaving warehouses overstocked (believe me I've seen mountains of Easter Eggs and whacky Valentines gifts go to waste)
After losing the protection of Kingfisher, we were laiden down with almost £600m in debt along with poor store lease agreements created during the period of 'sale and leaseback' from greedy landlords. We tried to get a unit in the Bluewater mall when it opened with 20,000 sq ft unit but the developer said we were too down market!
Rubbish supply chain, one of the biggest suppliers was Tesco who suddenly withdrew as a supplier leaving us with out of date or no stock at all.
We tried to create some equity in the business through acquisitions that failed miserably. Then came the pound shops, Wilko and amazon!
The 2008 crash was the nail in the coffin, no finance rescue packages available.
Not even an advert with Keith Chegwin or Tommy Steele could of saved us!
I do miss the free pic 'n' mix though!
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