Given the terrible performance of this stock in recent months (down 70% this year), it's surprising to see that Alan Sugar has bought a 4% stake in Woolworths. Despite a recent change of chief executive, the business is struggling and this week it lost its credit insurance lines from the three biggest specialist insurers.
The FT put it succintly - 'Analysts were puzzled that Sir Alan would invest in a company whose auditors, PwC, say there are "material uncertainties which may cast significant doubt about the company's ability to continue as a going concern"'.
What's he up to? A stroke of genius or is he going to lose his shirt?
http://news.bbc.co.uk/1/hi/business/7663514.stm
http://www.ft.com/cms/s/0/d6334edc-972c-11dd-8cc4-000077b07658.html
