Not surprised
Having worked for them for two years (mid'99-mid'01) I know they can't organise a piss up in a brewery so that they've hit the wall some real competition has shown up is not really surprising at all.
The real shocker is they've lasted this long with their poor business models and ineffective management, during my time there I had no less than six area managers, how can you manage effectively when the staff responsbile for your frontline are circulated every few months?