Sun, 05/07/2009 - 08:01
The advisers who wound up Woolworth's were paid at least £14m for just five months' work, the Sun has reported. Administrators at Deloitte, appointed last November, "pocketed a whopping £3.8m", a memo seen by the newspaper has revealed.
Retail restructuring specialists HILCO trousered £2.2m...
Thu, 12/02/2009 - 08:04
EUK administrator Deloitte is planning to auction off the contents of the company’s warehouse this week, according to various reports. The warehouse contains 1.1m games and 1.8m books.
First reported on Cue Entertainment, and picked up elsewhere, Deloitte is accepting offers for the stock and has sent a list of its contents to a...
Thu, 04/12/2008 - 12:05
Talks with "a substantial number" of potential suitors for Entertainment UK and Woolworths will continue into the early part of next week, its administrators have said. Dan Butters, reorganisation services partner at Deloitte, said that it had held face-to-face meetings with "the majority" of EUK's customers.
Thu, 27/11/2008 - 08:34
Bertram/THE has been unaffected by parent company Woolworths Group plc's decision to place wholesaler Entertainment UK (EUK) and its retail wing into administration, The Bookseller understands.
The boards of EUK and Woolworths Retail met on Wednesday night (26th November) with both businesses falling under the control of...
Mon, 17/11/2008 - 07:07
The BBC is prepared to buy Woolworths out of their 2 entertain joint venture in which the beleaguered high street chain's stake has been valued at £200m, reports the Daily Mail.
The music and film distribution business is 60% owned by the Corporation's commercial arm, BBC Worldwide, with the remainder held by Woolworths....
Fri, 14/11/2008 - 08:19
Woolworths is being forced to demand cash up front for millions of pounds of Christmas goods in a dramatic sign of how the credit crisis is spreading into the broader economy, reports the FT.
EUK would normally give wholesale customers weeks to settle bills. But in a step that underlines fears over Woolworths' creditworthiness, some...
Fri, 10/10/2008 - 06:16
Sir Alan Sugar, the millionaire founder of Amstrad computers, has acquired a near-4% stake in Woolworths, the troubled retailer, notes the Telegraph.
Shares in Woolworths have fallen more than 80pc over the past 12 months. They closed up 5% yesterday at 3.14p, having fallen sharply on reports credit insurers were refusing to provide...
Fri, 03/10/2008 - 06:05
Woolworths has strongly denied reports that major suppliers have temporarily halted trading through Bertrams, while negotiations over credit terms continued, reports the Telegraph. Trade was continuing "as normal" insisted the spokesman.
The withdrawal of insurance cover for Bertrams has forced publishers to demand quicker...
Thu, 18/09/2008 - 06:37
The new chief executive of Woolworths plans to close the company’s final-salary pension scheme, cut jobs and sell stores after the ailing high street retailer reported a record £100m half-year loss, reports the Times. He is also ending the brief foray into home shopping through its Big Red Book catalogue.
Steve Johnson, who...
Wed, 17/09/2008 - 07:51
Woolworth's has reported a further deterioration in sales in the first half of its financial year, and a loss at its retail arm of some £73m. The group said the "particularly disappointing" result in retail highlighted the "operational issues and strategic challenges" faced at its stores division. But it said that...