Interesting, for one thing, because so many of the comments are talking about the competition from Tesco or online retailers and so on, and I don't think anyone's mentioned Wilkinsons, which is - I realise now I think about - the chain I tend to end up in when I'm looking for cheap *stuff* with an emphasis on kitchen equipment or other house-based or DIY things. Or, in other words, the sort of thing I might once have into Woolworths for.
Interesting, also, as people point out the (fairly obvious) fact that a catch-all shop like Woolies has most benefit in small shopping areas - I've probably used the branch in Whitby, where I've stayed for a handful of four-day visits, far more often than the branch in the large shopping centre that I've lived near for eight years.
It's a small town thing, a suburb thing (in the UK rather than the US sense of the word), a 'we've got to get out of this place' kind of thing*. And yet, it serves a purpose. Or it did ...
*subject line for this post is from the X-Ray Spex song of the same name.

