Timothy Lloyd former head of group taxation at Woolworths Group gives his personal inside experience of administration
On 28 August 2001 Woolworths Group plc (WWG) listed on demerger from Kingfisher plc. On 26 November 2008 its subsidiaries Woolworths plc (Woolworths) and Entertainment UK (EUK) went into administration leaving WWG 2entertain Group (its joint venture with the BBC) Bertram and 11 smaller UK or offshore operations. Two months later on 28 January 2008 WWG followed them.
Pre administration
About the second week of November the press started speculating that Woolworths was in difficulty. Prior to this a combination of withdrawal of suppliers credit insurance and the consumer downturn had resulted in my starting...
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Timothy Lloyd former head of group taxation at Woolworths Group gives his personal inside experience of administration
On 28 August 2001 Woolworths Group plc (WWG) listed on demerger from Kingfisher plc. On 26 November 2008 its subsidiaries Woolworths plc (Woolworths) and Entertainment UK (EUK) went into administration leaving WWG 2entertain Group (its joint venture with the BBC) Bertram and 11 smaller UK or offshore operations. Two months later on 28 January 2008 WWG followed them.
Pre administration
About the second week of November the press started speculating that Woolworths was in difficulty. Prior to this a combination of withdrawal of suppliers credit insurance and the consumer downturn had resulted in my starting...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
