Why did MFI, Woolworths have gone bankrupt?

Ok, there is global credit crunch, there's very little money to lend by the banks. But what I cant understand is that, how these giants are tumbling down? Is this because there are not enough people with money to buy their goods? Or is it because there were running a tight ship and the inability to borrow has... show more Ok, there is global credit crunch, there's very little money to lend by the banks. But what I cant understand is that, how these giants are tumbling down? Is this because there are not enough people with money to buy their goods? Or is it because there were running a tight ship and the inability to borrow has tipped the balance?
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