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Entertainment UK's administrator Deloitte said it plans to continue operating the wholesaler as an ongoing concern and will restart supply to its customers "as soon as possible".
A spokesperson for Deloitte told The Bookseller that the administrator had been locked in talks today with EUK's management, its retail customers Sainsbury's, Tesco, Zavvi, Woolworths and Morrison and publishers. He said: "What we have been doing today is stablising the business.”
Supply to retailers has temporarily halted but the spokesperson said it wanted to restart distribution "as soon as possible". However, he declined to say when he expected this to be. He said: "The first priority is to stabilise the business and fully understand it and obviously continue to trade it as we seek a buyer."
He added that it was too early to say how long the administration would take and that a meeting date for the businesses' creditors has yet to be scheduled.
The spokesperson said that it had already received expressions of interest "in double figures" from a number of possible suitors for both EUK and Woolworths Retail, which both plunged into administration on Wednesday night.