Buyers line up for chance to pick up Woolworths

Deloitte, appointed administrator of the collapsed high street retailer Woolworths, had received interest from 'a number of parties' for both the retail arm and the firm's EUK wholesaling operation in the past 24 hours.

The collapse of Woolworths has left the future of the retailer's 30,000 staff uncertain, but Dan Butters, Deloitte's reorganisation services partner, said the administrator was working hard to 'ensure that any sale of the business, in whole or part, will preserve jobs'.

Hilco, the restructuring specialist, which failed in its bid to buy Woolworths' stores for £1 and assume a major share of its £385m borrowing facility, has been appointed by Deloitte as an agent to help manage the retail arm, The Press Association reports.

But the collapse also sparked fears of a price war on an already-beleaguered high street, with administrators potentially slashing prices to generate cash for creditors and offload unsold stock.

Further reading:

Woolworths Enters Administration [Bargains Galore?]

That's the wonder of Woolies