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 director of a company set up to market a fuel-saving device has been disqualified for failing to maintain and preserve proper records
Cowgill Holloway Business Recovery has concluded the sale of assets of film distributor Metrodome to independent movie distributor 101 Films following appointment as administrators
PwC must face $1bn lawsuit over claims it provided bad accounting advice which contributed to the 2011 collapse of MF Global
HMRC filed 3,484 winding up petitions in 2015, up from the 3,074 applications filed the previous year