|
|
04 Feb 2009
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.
You may also like
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.
In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment