Neville Kahn, the Deloitte partner who is heading a 100-plus team working on
the administration and potential sale of Woolworths, said Deloitte remained
‘very confident’ it could sell the business ‘to someone who will keep it as a
going concern’. ‘We have commitments to keep Woolworths trading until after
Christmas, by which time we should have a buyer,’ he said.
Theo Paphitis is said to have a ‘tentative’ interest in salvaging profitable
stores. In addition Tony Page, who runs the stores division, is reportedly in
talks with financial backers over a possible management buy-out, The
Herald in Glasgow reports.
Apparently, Discount store Poundland as well as Tesco, Sainsbury, Asda, the
Co-operative and Iceland have all expressed interest, while Ardeshir Naghshineh,
Woolworths’ biggest shareholder, was said to be planning a bid for the whole
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