Microsoft prepares to sue over loss of Woolworths stock

By Mike, Monday, 5 January 2009 15:29 GMT

According to this Time Online report, Microsoft is preparing to launch a class action suit against UK high street retailer Woolworths in a bid to reclaim several millions of pounds worth of stock.

The chain is set to close its doors to the public tomorrow as the recent credit crunch took its toll early last month. However, according to the Times article, the firm still has tens of millions of pounds of stock in its warehouses.

“Under ‘retention of title’ rules, suppliers can claim back their own stock if it has not been paid for but, more broadly, they can claim stock that has been paid for in lieu of debts,” says the piece.

More through the link.

Thanks, CVG.

By Mike Bowden

Sometimes we include links to online retail stores. If you click on one and make a purchase we may receive a small commission. For more information, go here.

Comments

Headlines

Woolworths

  • GameStop stamps on Woolworths buyout rumour

    An MCV rumour that GameStop is looking at buying dying UK retailer Woolworths is incorrect, the US chain has said in a statement. “Claims originating from games industry publication MCV hold no merit and are completely inaccurate,” the company said. MCV did not comment on GameStop’s release. The site’s original piece cited an anonymous source […]

  • Up to 50% off all Woolworths stock today

    And that includes games, apparently. The UK retailer went into administration last week, and has now announced its “Biggest Ever Sale”. Administrator Deloitte told MCV in a statement: “We anticipate increased footfall in the stores and have hired additional staff to cope with increased demand. Additional goods have been moved to all stores and further […]