Deloitte has revealed that Woolworths’ main lending banks will likely be
repaid the £335 million owed to them by the collapsed retailer.
Meanwhile, ordinary unsecured creditors that attended the creditors’ meeting
in north London yesterday discovered they will receive almost nothing, according
to The Independent.
Deloitte has also been asked by a creditor to investigate why Woolworths did
not stop trading earlier in order to give it more time to organize a buyer for
the business before it went into administration on 27 November.
Administrator Neville Kahn said Woolworths’ six lenders – which include the
Bank of Ireland’s subsidiary Burdale Financial and private-equity owned GMAC
Commercial – would be paid in full.
The select committee heard that GT had not met up with the BHS pension scheme advisers or trustees, but had done so with Deloitte, Arcadia’s pension advisers
The England and Wales Cricket board has hit HMRC for six in its VAT battle with the government department
Mather boasts a quarter century of restructuring and insolvency experience gleaned across various roles at Deloitte and Begbies Traynor
Clothing firm behind Pretty Polly tights blames BHS for its collapse