An investigation in the role of prevalent economic conditions in the closing down of Woolworths(TM) chain of stores in England and its possible after effects

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An investigation in the role of prevalent economic conditions in the closing down of Woolworths' chain of stores in England and its possible after effects.

Aim

The aim of this research is to examine the current economic situation in England and its role in the closure of the Woolworths'. The research also aims to investigate the possible after effects of such a close down and its impact on the economy and employment levels across England.

Background

Affectionately called 'Woollies', the Woolworth chain of stores is a popular name amongst the British consumers. Woollies mainly caters to the middle range consumers. Amongst its various products, the more famous offerings include the Ladybird range of children's clothing, Chad Valley toys and the pic'n'mix range of sweets. Woolworths became a major news headline recently for having announced shutting down its 800 odd stores across the country while leaving approximately 26,000 of its employed staff, unemployed. This quite important in terms of current economic conditions. Closing down of such a large group, will have a major impact on the already failing economy. The economic conditions in England are a reflect of a global economic downturn which are indicated by