appointed administrator of the collapsed high street retailer Woolworths, had
received interest from ‘a number of parties’ for both the retail arm and the
firm’s EUK wholesaling operation in the past 24 hours.
The collapse of Woolworths has left the future of the retailer’s 30,000 staff
uncertain, but Dan Butters, Deloitte’s reorganisation services partner, said
the administrator was working hard to ‘ensure that any sale of the business, in
whole or part, will preserve jobs’.
restructuring specialist, which failed in its bid to buy Woolworths’ stores for
£1 and assume a major share of its £385m borrowing facility, has been appointed
by Deloitte as an agent to help manage the retail arm,
Press Association reports.
But the collapse also sparked fears of a price war on an already-beleaguered
high street, with administrators potentially slashing prices to generate cash
for creditors and offload unsold stock.
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