Woolies, etc
It's been a bad 24 hours for UK retailing, with Woolworths ending its 100 year love affair with the British High Street and venerable furniture chain MFI also hanging up its hat. There have also been lower profile casualties like 247electrical.co.uk.
While these retail casualties are being viewed in the context of the global recession, DSGi and Woolies, at least, have been struggling for a while. Both are victims of the times, with more modern, efficient operations consistently muscling into their market.
While Woolies has called in the administrators, DSGi is still in the process of its "renewal and transformation plan" as it attempts to reshape itself into a 21st century company. With it being relatively late to the internet game and with new competitors like Best Buy on the horizon it certainly has its work cut out.
DSGi's shares are down seven percent to 13p, at time of writing. They were trading at more like 100p at the start of the year.
We would like to hear your thoughts on the demise of Woolworths and the struggles of DSGi. Will Woolies be missed? Do you think DSGi can succeed in its transformation plan? Let us know in the HEXUS.community.
