Quote:
Originally Posted by pwalker8
That's certainly true enough, but as far as I can tell that certainly is not the case here. They simply rebranded one of their divisions. It seems to be quite successful and employees quite a few people.
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No, they didn't simply "rebrand" one of their divisions. As far as I can tell, Foot Locker was not rebranded at all. What they did was create a new company and siphoned off the money-making divisions from the old company. In other words, they were preparing to let Woolworth's (proper) founder, while they built a life-boat to watch it sink. They didn't fix (or attempt to fix) the problems with Woolworth's, they gave up on it. This kept the suits happy, but the employees and (probably) the investors in the original F.W. Woolworth Company were screwed.