Buyers line up for Woolworths

Dragon’s Den star Theo Paphitis is among a number of potential buyers lining up to buy troubled retailer Woolworths. It is understood that meetings have taken place between several interested parties and Woolworths’ administrators, Deloitte.

The administrators, who were called in last week, are thought to have received interest from a number of potential buyers over the weekend, including Pahpitis, who has revived ailing retail chains Rymans and La Senza. He is thought to be interested in buying a number of Woolworths profitable stores.

Tesco and Waitrose are also thought to be among potential bidders and are believed to interested in buying some of Woolworths’ high street outlets.

Woolworths largest shareholder, Ardeshir Naghshineh, is believed to be making plans to make a bid for the whole group including its CD and DVD distribution business and 2Entertain, a joint venture with the BBC.

It is also understood that Tony Page, who runs Woolworths’ retail stores division is planning to mount a bid with other members of the management team from its retail division.

Deloitte is compiling a shortlist of bidders and says it is “business as usual” for Woolworths stores until a sale is arranged and that the chain’s 30,000 staff should keep their jobs until at least Christmas.

Comments

    Leave a comment

    Close

    Discover even more as a subscriber

    This article is available for subscribers only.

    Sign up now for your access-all-areas pass.

    If you're an existing paid print subscriber find out how to get access here.

    Subscribers enjoy unlimited access to unrivalled coverage of the biggest issues in marketing, alongside practical advice from the digital experts at Econsultancy.

    With a subscription to Marketing Week Premium you will get full access to:

    > World-renowned columnists

    > Analysis & case studies

    > Exclusive leading-edge insight

    > Carefully curated reports & briefings from Econsultancy

    > Plus, much more including a £300 discount for the Festival of Marketing

    Subscribe now

    Got a question?

    Contact us on +44 (0)20 7292 3703 or email customerservices@marketingweek.com

    If you are looking for our Jobs site, please click here

    Subscribers enjoy unlimited access to unrivalled coverage of the biggest issues in marketing, alongside practical advice from the digital experts at Econsultancy.

    With a subscription to Marketing Week Premium you will get full access to:

    > World-renowned columnists

    > Analysis & case studies

    > Exclusive leading-edge insight

    > Carefully curated reports & briefings from Econsultancy

    > Plus, much more including a £300 discount for the Festival of Marketing

    Subscribe now