With the collapse of UK retailer Woolworths there’s been a lot of trouble brewing, but now more so as its distribution arm still has stock they didn’t pay for.
Microsoft want their gear back, as do EMI, and can under ”retention of title” law if the stock hasn’t been paid for or in exchange for debt owed. It’s better than having it sold cheaply.
At least it’s better than having them sold on the cheap for the companies, we wouldn’t mind at all. Woolworths collapsed under £385 million in debt by the end and it seems that Nintendo was owed £21 million and Microsoft £26 million from Entertainment UK (EUK).
Deloitte, who are running affairs as the administrators likely hoped to sell the stock on the cheap to recover some of the losses but the big boys would rather a lawsuit to resell it all at RRP value.
EUK still has tens of millions in stock merchandise from movie DVDs, videogames and music CDs.
Source: CVG
