Mon, Jan 05, 2009 | 15:34 GMT
Microsoft prepares to sue over loss of Woolworths stock
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
7 comments
#1
Blerk
05/01/09, 3:48 pm
They should expect payment in the form of 250,000 bags of shop-soiled pick n’ mix.
#2
Mike
05/01/09, 3:50 pm
#3
Whizzo
05/01/09, 4:18 pm
It’s probably a shot across the bows at Zavvi as well to remind them of their obligations when they inevitably sink below the waves.
#4
onyxbox
05/01/09, 10:00 pm
I’m gutted about Woolies.
#5
Newbie101
06/01/09, 8:50 am
A lot of people are gutted about Woolies but it’s a shame most of them people didn’t even shop there…
Hey ho….
#6
cookiejar
06/01/09, 2:43 pm
Exactly. Same with Concorde. Everyone took an interest in it on its last flight, and were all teary eyed about it, and yet didn’t give a monkeys nut when it needed it.
People…
#7
Psychotext
06/01/09, 3:21 pm
In fairness, it’s not like most of the people who cared about Concorde could afford to fly on it… even if they wanted to.