Is Woolworths worth saving?
Simply….No. Your suggestion of the government stepping in with a loan to bail out Woolworths would probably be the worst thing that could happen. Can we say socialism? A mixed socialist and free market state can’t exist. What about the next retailer, and the next etc? Do we carry on bailing out mismanaged companies? The banks (and I have to declare myself as an interested party here)…were only bailed out as the lynch-pin to a national economic recovery. You can’t have no banking system. The government can’t properly run what it has today (point to a well run nationalised industry) …it knows nothing about successful retailing (nor should it) …nor does Woolworths management it seems….and you only give loans to those with successful business models…Woolies just ain’t got one now. If no-one else wants to buy it – then it’s not a going concern – and should go to the wall. Of course the government could try to sweeten a deal somewhat….and do this as a matter or policy (not just
