Strong interest in Woolworths leases

Woolworths’ administrator Deloitte said it has had ‘strong interest’ for
Woolworths’ 815 stores from potential byers across Britain leading up to the 4pm
deadline today for registering their interest.

Deloitte said it was continuing talks to sell Woolworths as a going concern
and that, ‘a number of parties’ were interested in buying the whole firm.

However, the
understands it is unlikely any buyer will take on the entire business. Instead
they will only be interested in buying the most profitable stores, which would
leave a number of shops to be sold to other buyers.

Woolworths’ CD, DVD and computer games distribution business Entertainment UK
is also in administration but publisher 2 Entertain, its joint venture with BBC
Worldwide, in which Woolworths has a 40% stake, continues to operate as normal.

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