They are not a victim of the latest credit crisis
Posted: Sat Jul 12, 2025 6:34 am
On trading floors across London, brokers and traders fought to minimise the impact of Lehmann’s collapse, but at Lehmann’s headquarters in Canary Wharf there was no damage limitation. The damage had already been done and all the staff could do was wait to be handed their P45s.
At the pre budget report in the Autumn the forecast was for things to be bad, but not this bad.
On the trading floors, turmoil.
Share prices continued to tumble in the aftermath of the Lehmann collapse.
Gordon Brown having said he’d ended boom and bust is actually going to give us one of the biggest busts this country has ever known and he is not even being straight with people about how long it’s going to last.
Retailers have taken a real battering during the credit crunch phone number data consumers have stayed at home and suppliers, creditors and landlords have tightened their grip. Dozens have already gone bankrupt but the loss of MFI and Woolworths which between them employ over 31 thousand people would be a severe blow to Gordon Brown, coming the very week he’s tried to inject confidence into the high street with a cut in VAT.
We all knew it was bad but didn’t know until now how quickly it became very, very bad.
Well this looks very much worse than people were expecting and it confirms that we are facing the worst recession for a generation.
Meltdown on the high street. Woolworths and MFI the latest casualties. Once iconic brands, tonight both have been forced into administration, the latest victims of Britain’s credit crisis.
Andrew Reynolds Wait a minute. Woolworths? Woolworths have been in trouble for years. On the telly they have been showing us all these images, they’ve shown us nice old, nostalgic black and white footage of when your mum used to take you down to Woolworths to get your pick and mix. They have been showing us all the pictures from the old days about Woolworths, isn’t it terrible that the recession has killed Woolworths?
At the pre budget report in the Autumn the forecast was for things to be bad, but not this bad.
On the trading floors, turmoil.
Share prices continued to tumble in the aftermath of the Lehmann collapse.
Gordon Brown having said he’d ended boom and bust is actually going to give us one of the biggest busts this country has ever known and he is not even being straight with people about how long it’s going to last.
Retailers have taken a real battering during the credit crunch phone number data consumers have stayed at home and suppliers, creditors and landlords have tightened their grip. Dozens have already gone bankrupt but the loss of MFI and Woolworths which between them employ over 31 thousand people would be a severe blow to Gordon Brown, coming the very week he’s tried to inject confidence into the high street with a cut in VAT.
We all knew it was bad but didn’t know until now how quickly it became very, very bad.
Well this looks very much worse than people were expecting and it confirms that we are facing the worst recession for a generation.
Meltdown on the high street. Woolworths and MFI the latest casualties. Once iconic brands, tonight both have been forced into administration, the latest victims of Britain’s credit crisis.
Andrew Reynolds Wait a minute. Woolworths? Woolworths have been in trouble for years. On the telly they have been showing us all these images, they’ve shown us nice old, nostalgic black and white footage of when your mum used to take you down to Woolworths to get your pick and mix. They have been showing us all the pictures from the old days about Woolworths, isn’t it terrible that the recession has killed Woolworths?