Abstract
Woolworths Group plc is a case study of one of the largest retailers in the UK, entering administration as an early victim of the UK financial crisis. The case reflects an informal rescue process characterised by the board’s minimal use of rescue options. The main governance issue is the lender’s influence over the sale of the business created by the board’s use of secured debt financing at the start of the informal rescue process. The role of unsecured creditors in aggravating the company’s financial distress through suspending or terminating their supply contracts is also significant.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Bibliography
Braithwaite, Tom. 2008. “Walker Holds Talks over Woolworths.” Financial Times, September 5.
Britton, Anne and Chris Waterston. 2009. Financial Accounting. Essex: Pearson Education Limited.
Stacey, Kiran and Elizabeth Rigby. 2008. “Last of Credit Insurers Pulls Out of Woolies.” Financial Times, October 7.
“Woolworths Set for Administration.” BBC.com. http://news.bbc.co.uk/1/hi/7751064.stm. Accessed December 30, 2013.
“Woolworths to Focus on Xmas Despite Slump.” Personnel Today, September 9, 2008.
Woolworths Group, plc. Directorate Change Dated January 29, 2008. www.investegate.co.uk. Accessed April 17, 2017.
Woolworths Group, plc. 2008. Annual Report and Accounts.
Woolworths Group, plc. 2007. Annual Report and Accounts. Registered August 22, 2008. https://beta.companieshouse.gov.uk/company/03855289/filing-history?page=2
Woolworths Group, plc. Resolutions. Registered June 23, 2008. https://beta.companieshouse.gov.uk/company/03855289/filing-history?page=2
Woolworths Group, plc. Form 2.17B. Registered March 26, 2009. https://beta.companieshouse.gov.uk/company/03855289/filing-history?page=1
Woolworths Group, plc. Form 2.24B. Registered August 25, 2009. https://beta.companieshouse.gov.uk/company/03855289/filing-history?page=1
Woolworths Group, plc. Form 2.24B. Registered February 3, 2010. https://beta.companieshouse.gov.uk/company/03855289/filing-history?page=1
Woolworths Group, plc. Form 2.34B. Registered February 11, 2010. https://beta.companieshouse.gov.uk/company/03855289/filing-history?page=1
Woolworths Group, plc. Form 2.24B. Registered August 25, 2009. https://beta.companieshouse.gov.uk/company/03855289/filing-history?page=1
Woolworths Group, plc. Form 2.24B. Registered February 3, 2010. https://beta.companieshouse.gov.uk/company/03855289/filing-history?page=1
Woolworths Group, plc. Directorate Change. RNS No. 1206B Dated August 12, 2008.
Woolworths Group, plc. Directorate Change. RNS No. 3862G Dated October 22, 2008.
Woolworths Group, plc. Directorate Change. RNS No. 8034H Dated November 10, 2008.
Woolworths Group, plc. Directorate Change. RNS No. 9533W Dated June 18, 2008.
Woolworths Group, plc. Final Results Dated 2 April 2008. www.investegate.co.uk. Accessed April 17, 2017.
Woolworths Group, plc. Financing Dated 30 January 2008. www.investegate.co.uk. Accessed April 17, 2017.
Woolworths Group, plc. Form 2.12B. Registered February 7, 2009. https://beta.companieshouse.gov.uk/company/03855289/filing-history?page=1
Woolworths Group, plc. Form 395. Registered December 13, 2008. https://beta.companieshouse.gov.uk/company/03855289/filing-history?page=2
Woolworths Group, plc. Form 395. Registered February 8, 2008. https://beta.companieshouse.gov.uk/company/03855289/filing-history?page=2
Woolworths Group, plc. Form 2.16B with Form 2.14B. Registered March 14, 2009. https://beta.companieshouse.gov.uk/company/03855289/filing-history?page=1
Woolworths Group, plc. Group of Companies’ Accounts Made up to 3 February 2008. https://beta.companieshouse.gov.uk/company/03855289/filing-history?page=2
Woolworths Group, plc. Holding(s) in Company. RNS No. 9019X Dated June 30, 2008.
Woolworths Group, plc. Interim Results. RNS No. 6024D Dated September 17, 2008.
Woolworths Group, plc. Result of AGM. RNS No. 0270X Dated June 18, 2008.
Woolworths Group, plc. Statement re Press Comment. RNS No. 0413J Dated November 27, 2008.
Woolworths Group, plc. Statement re Press Comment. RNS No. 4905B Dated August 17, 2008.
Woolworths Group, plc. Statement re Suspension. RNS No. 9519I Dated November 26, 2008.
Woolworths Group, plc. Statement re. Press Comment. RNS No. 4905B Dated August 17, 2008.
Woolworths Group, plc. Store disposal. RNS No. 5650F Dated October 10, 2008.
Woolworths Group, plc. Store Disposal. RNS No. 9532W Dated June 18, 2008.
Woolworths Group, plc. Trading Statement. RNS No. 0576A Dated July 29, 2008.
Woolworths, plc. Form 2.17B. Registered January 21, 2009. https://beta.companieshouse.gov.uk/company/00104206/filing-history?page=3
Woolworths, plc. Form 2.23B. Registered February 18, 2009. https://beta.companieshouse.gov.uk/company/00104206/filing-history?page=2
Woolworths, plc. Form 2.26B. Registered February 10, 2009. https://beta.companieshouse.gov.uk/company/00104206/filing-history?page=2
Woolworths, plc. CERT11. Registered May 6, 2009. https://beta.companieshouse.gov.uk/company/00104206/filing-history?page=2
Woolworths, plc. Form 2.12B. Registered December 8, 2008. https://beta.companieshouse.gov.uk/company/00104206/filing-history?page=3
Woolworths, plc. Form 2.12B. Registered December 8, 2008. https://beta.companieshouse.gov.uk/company/00104206/filing-history?page=3
Woolworths, plc. Form 2.16B with Form 2.14B. Registered January 28, 2009. https://beta.companieshouse.gov.uk/company/00104206/filing-history?page=3
Woolworths, plc. Form 2.17B. Registered January 21, 2009. https://beta.companieshouse.gov.uk/company/00104206/filing-history?page=3
Woolworths, plc. Form 53. Registered May 6, 2009. https://beta.companieshouse.gov.uk/company/00104206/filing-history?page=2
Woolworths, plc. Form 53. Registered May 6, 2009. https://beta.companieshouse.gov.uk/company/00104206/filing-history?page=2
Woolworths, plc. Resolutions. Registered November 24, 2008. https://beta.companieshouse.gov.uk/company/00104206/filing-history?page=2
WW Realisation 1, limited. Form 2.24B. Registered June 23, 2010. https://beta.companieshouse.gov.uk/company/00104206/filing-history?page=2
WW Realisation 1, limited. Form 2.24B. Registered June 24, 2010. https://beta.companieshouse.gov.uk/company/00104206/filing-history?page=2
WW Realisation 1, limited. Form 2.24B. Registered June 29, 2010. https://beta.companieshouse.gov.uk/company/00104206/filing-history?page=2
WW Realisation 1, limited. Form 2.24B. Registered July 14, 2010. https://beta.companieshouse.gov.uk/company/00104206/filing-history?page=2
WW Realisation 1, limited. Form 2.24B. Registered November 23, 2010. https://beta.companieshouse.gov.uk/company/00104206/filing-history?page=2
WW Realisation 1, limited. Form 2.33B. Registered November 23, 2010. https://beta.companieshouse.gov.uk/company/00104206/filing-history?page=2
WW Realisation 1, limited. Form 2.31B. Registered December 23, 2009. https://beta.companieshouse.gov.uk/company/00104206/filing-history?page=2
WW Realisation 1, limited. Form 2.24B. Registered December 23, 2009. https://beta.companieshouse.gov.uk/company/00104206/filing-history?page=2
WW Realisation 1, limited. Form 2.24B. Registered June 26, 2009. https://beta.companieshouse.gov.uk/company/00104206/filing-history?page=2
WW Realisation 1, limited. Form 2.24B. Registered June 29, 2009. https://beta.companieshouse.gov.uk/company/00104206/filing-history?page=2
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2018 The Author(s)
About this chapter
Cite this chapter
Parkinson, M.M. (2018). Case Study 4: Woolworths Group plc. In: Corporate Governance in Transition. Palgrave Studies in Governance, Leadership and Responsibility. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-77110-6_10
Download citation
DOI: https://doi.org/10.1007/978-3-319-77110-6_10
Published:
Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-319-77109-0
Online ISBN: 978-3-319-77110-6
eBook Packages: Business and ManagementBusiness and Management (R0)