Burdale Financial, part of Bank of Ireland, and GMAC Commercial Finance have
appointed Deloitte’s corporate restructuring arm to be part of negotiations for
Woolworths’ business plan and budget forecast after they earlier, in January,
jointly lent £385m to the group as part of a restructuring plan.
Deloitte met with KPMG, which has been appointed by Woolworths, for the first
time late last week.
Further meetings are expected before the business plan and budget are settled
A Woolworths spokesperson told The Independent the Deloitte’s appointment was
no surprise because the two lenders were always expected to be part of the
discussions about next year’s plans. The loan is secured against several assets,
including Woolworths’ stock.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children