Retail analyst Sanjay Vidyarthi at Dresdner Kleinwort, is warning clients:
Retail to be put into administration, the consequences for the rest of the
high street could be significant, given Woolworths has sales of £1.7bn.’
Experts agree Woolworths’ days in its current form are numbered. One analyst
told The Daily Telegraph: ‘Whether Hilco gets it or someone else, Woolworths is
not long for this world. In fact, it has to be the longest corporate death in
An insolvency expert said the timing of any move to put Woolworths into
administration – should it happen – would be highly tactical. ‘
The challenge is whether to put it into pre-pack administration before
Christmas or after. If you do it after Christmas you get the cash from trading.
If you do it before, you let the new owners take the cash,’ he said.
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