DrunknMunky Veteran Posted January 6, 2009 Veteran Share Posted January 6, 2009 Company prepares to take legal action Big name companies including Microsoft and EMI are preparing legal action against Woolworths' administrators in a bid to reclaim millions of pounds of stock. Woolworths' distribution arm, Entertainment UK (EUK), still has tens of millions of pounds worth of games, CDs and DVDs in its warehouses, despite the fact that the last operating Woolies stores are due to shut tomorrow. 'Under "retention of title" rules, suppliers can claim back their own stock if it has not been paid for but, more broadly, they can claim stock that has been paid for in lieu of debts,' says The Times. If successful, the strategy would give the likes of Microsoft the chance to resell the goods, rather than seeing the administrator, in this case Deloitte, shifting them on the cheap. Woolworths went into administration late in November as the group collapsed under ?385 million of debt. It was later reported that Nintendo was owed ?21 million and Microsoft ?26 million from EUK.[/quoteSource: CVG/b> Link to comment Share on other sites More sharing options...
The Teej Posted January 6, 2009 Share Posted January 6, 2009 RIP Woolies :( Link to comment Share on other sites More sharing options...
+Audioboxer Subscriber² Posted January 6, 2009 Subscriber² Share Posted January 6, 2009 Quick Woolies, firesale that **** at rock bottom prices :rofl: Link to comment Share on other sites More sharing options...
Inklin Posted January 6, 2009 Share Posted January 6, 2009 shame that woollies went under, but with woollies going under with the Entertainment UK part going under also, its bought Zavvi a music/DVD store down with it due to the lack of stock. i hope Zavvi can recover somehow with the help of administrators. Link to comment Share on other sites More sharing options...
DrunknMunky Veteran Posted January 6, 2009 Author Veteran Share Posted January 6, 2009 Yeah I don't want Zavvi to go down (N) Link to comment Share on other sites More sharing options...
.KICK Posted January 6, 2009 Share Posted January 6, 2009 Quick Woolies, firesale that **** at rock bottom prices :rofl: Yeah but Woolies is now officially shut so they have no way of getting the items to you! Oh well, MS should be able to get their stock back if they want. Article states the rules saying they can. Link to comment Share on other sites More sharing options...
neoadorable Posted January 6, 2009 Share Posted January 6, 2009 good luck getting it back, not easy dealing with bankrupt companies, or people for that matter. they got nothing to lose! yeah it's a shame Woolworths is going bust - they don't have the same sentimental value to me as they do to you islanders, but i also know them from the US and other places, so definitely a shame. Link to comment Share on other sites More sharing options...
+Audioboxer Subscriber² Posted January 6, 2009 Subscriber² Share Posted January 6, 2009 Yeah but Woolies is now officially shut so they have no way of getting the items to you!Oh well, MS should be able to get their stock back if they want. Article states the rules saying they can. I don't mind driving to the warehouses if they sell me games at ?1 a pop:pp Link to comment Share on other sites More sharing options...
crazzyyfool Posted January 6, 2009 Share Posted January 6, 2009 Anyone know where the warehouses are located? :shiftyninja: Link to comment Share on other sites More sharing options...
DrunknMunky Veteran Posted January 6, 2009 Author Veteran Share Posted January 6, 2009 good luck getting it back, not easy dealing with bankrupt companies, or people for that matter. they got nothing to lose!yeah it's a shame Woolworths is going bust - they don't have the same sentimental value to me as they do to you islanders, but i also know them from the US and other places, so definitely a shame. Who gives a stuff about Woolworths lol, not even us islanders do! Link to comment Share on other sites More sharing options...
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