OliWW:
Your first point - spot on!
Your second less so. Woolworths were part of the UK retail scene for 99 years - but that is no guarantee they will make it to 100. A tough economic environment has seen to that; and it will probably see to the prospects for more airlines yet.
Nobody in their right mind would wish redundancy on anyone who is working hard to feed their families and keep a roof over their heads - but for the next year or two things are going to be tough for everyone - to state the blindingly obvious - and creditors are less patient than they might have been 18 months ago.
Best of luck to all.