Steve Johnson takes £9m challenge to revitalise Woolworths
August 13, 2008
The executive who sold Focus DIY for £1 last year is on his way to becoming a
£9 million man after landing the top job at Woolworths.
Woolworths shares dive to all-time low after warning of 'marked' downturn
Woolworths had a day to forget yesterday, when it posted a profit warning, revealed dire recent trading, and tore up plans to sell its £200m stake in DVD publisher 2 entertain.
New profit warning as Woolworths abandons 2entertain sale
Woolworths lurched deeper into crisis yesterday as it abandoned the planned sale of 2entertain, its DVD publishing business, and admitted that a recent collapse in sales meant that it would again miss its profit targets. 
Woolworths still eyeing The Warehouse
Cashed-up retailer Woolworths is still likely to make a tilt at the New Zealand general merchandise retailer The Warehouse, an investment house says.
Woolworths hires finance veteran in...
Woolworths has appointed a new chief financial officer days after the
departure of a senior director raised concerns that other executives may
leave the troubled retailer.
Woolworths in talks to sell retail...
Woolworths is in talks to sell its entire high street business to Hilco, the
specialist distressed fund, for £1.
Woolworths dives as it confirms...
Woolworths this morning confirmed a report in The Times that it is in
talks to sell its retail business.
Woolworths in talks over £1 offer...
Woolworths’ biggest shareholder was locked in meetings with advisers last night over how best to fight Hilco’s £1 offer for the company’s retail arm.
Woolworths shares crash to seven-year...
Shares in Woolworths crashed this morning to a seven-year low after the
retailer issued a profit warning, saying that sales declined in the first
half.
Woolworths may plunge into a retail bucket
If Steve Johnson wondered what he had let himself in for by agreeing to be the new chief executive of Woolworths, it was laid bare yesterday. According to one City analyst, he has no choice but to rip up the group's tried-and-tested model and become a bucket shop.
Woolworths rejects offer by Iceland chief Walker
Woolworths has rejected a surprise offer to acquire its retail division by Malcolm Walker, chief executive of the frozen food specialist Iceland.
Woolworths in crisis rescue talks
THE management of Woolworths was locked in crisis talks this weekend about
securing a revised rescue deal to save the group from imminent collapse into
administration.
Woolworths investor touts alternative...
Woolworths’ largest shareholder, Ardeshir Naghshineh, is in talks with the
retailer’s banks about an alternative plan to a sale the company’s retail
arm to Hilco for...
Steve Johnson to run Woolworths
Woolworths, the troubled high street retailer, has appointed Steve Johnson,
the former chief executive of Focus DIY, as its new chief executive. He
replaces Trevor Bish-Jones,...
Woolworths' main shareholder in bank...
Ardeshir Naghshineh, Woolworths' largest shareholder, is in last-ditch talks
with the retailer's banks about an alternative to a sale of the high street
chain's retail arm to...
Iceland 'in bid for Woolworths'
The boss of the Iceland frozen food chain offers to buy troubled retailer Woolworths' network of 815 stores, reports say.
UK retailer Woolworths rejects...
British retailer Woolworths Group PLC's share price shot up as much as 23 percent on Monday, after it rejected an offer from Iceland Foods Ltd for its retail division. By noon...
Woolworths angers shareholders by rejecting Iceland founder's approach
Woolworths faces a showdown with its biggest shareholders after the ailing retailer rejected a takeover approach for its 815 stores yesterday from Malcolm Walker, the founder of the Iceland frozen-food chain.
Woolworths insists new chief executive can reinvigorate chain
Woolworths' chairman, Richard North, maintained that its retail division can robustly grow its profits yesterday as the group parted company with its chief executive, Trevor Bish Jones.
Woolworths says it is still open to...
Richard North, the chairman of Woolworths, said that the door remained open to
bidders for the business as he defended the board's decision to reject an
offer from Malcolm...
Malcolm Walker pushes for Woolworths...
THE founder of the Iceland food chain, Malcolm Walker, would slash overheads
and considerably narrow the product range in order to revive Woolworths,
should he succeed in his...
Woolworths stands on brink as wage...
Woolworths is at risk of going into administration as soon as this morning as
it scrabbles to find sufficient funds to pay its monthly wage bill.
Top Woolworths investor says no to...
WOOLWORTHS’ biggest shareholder has thrown his weight behind management in
rejecting Malcolm Walker’s £50m takeover approach, while refusing to deny
that he is planning...
Woolworths stores to close after...
Woolworths went into administration last night, putting thousands of high
street jobs at risk despite last-ditch government efforts to save it.
Potential buyers emerge to save...
The new management of Woolworths today revealed it has already received
several expressions of interests from parties about buying parts of the
business which collapsed last...