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.
Political and economic uncertainty behind the fall in confidence
Just Racing Services, operating company of the Manor Racing Formula One team has entered administration
Last year 16 oil and gas companies became insolvent, finds Top Ten firm Moore Stephens
Team Rock the publication of classic rock is in administration with FRP Advisory