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The company's collapse provides a snapshot of how the controversial insolvency process in the UK works.
It raises questions about the role of advisers, as well as decisions taken by Woolworths executives.
Woolworths also owned the Entertainment UK (EUK) wholesale arm and part of the 2entertain joint venture with the BBC.
In March 2006 EUK had been knocked when it lost the majority of a lucrative contract to supply CDs and DVDs to Tesco.
However as the chief executive of Woolworths sat though yet another all-night meeting in the sixth floor boardroom of Woolworths House, an imposing art deco building on London's Marylebone Road, it was all that he had to sustain him.