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.
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