Sad for all the people losing their jobs at Christmas, and sad that Woolworths can now never get back to what it once was. But they've been total tat shops for years.

The strange thing is that the original Woolworths trading model of the single price shop is booming - the Pound Shops in towns across teh UK are doing brilliantly, crowded out and selling constantly. And the other abandoned Woolworths idea of the shop where you can expect to find juist about all the small stuff you need at a fair price is going great guns too in the Wilkinsons chain.

So quite how Woolworths managed to screw up so badly is a puzzle.