Former Spurs director new Woolies front-runner?

Former Tottenham Hotspur vice-chairman David Bulcher is the latest favourite to buy Woolworths say reports.

Author:: Ronnie Dungan
Publish date:: Dec 9, 2008
Social count:: 0

According to reports the administrator hopes to find a buyer to bail out the beleaguered store by the end of the week - but 15,000 staff could still face the sack.

Administrator Deloitte, has had talks with potential buyers and former Tottenham Hotspur vice-chairman David Bulcher is a leading candidate.

He is thought to be preparing a bid of between £80-£100 million although his rescue package may still lead to almost half of Woolworths' employees losing their jobs.

Bulcher's plan would keep 350-400 of Woolies' 815 stores and keep the name on the high street, saving about 15,000 jobs.

Meanwhile, the store took over £27million, a one-day record, in the first 24 hours of its sale offering up to 50 per cent off some of goods and trade stayed busy over the weekend.

Value retail chain Poundland has today announced that it has purchased 12 ex-Woolworths stores.

Dragon's Den star Theo Paphitis is one of a number of suitors interested in buying Woolworths.

Woolworths is launching its biggest ever sale today, with up to 50 per cent off toys and other products.

According to a report in The Sun, three former Woolies execs are looking to relaunch on the High Street under a new name.

Deloitte has been confirmed as the appointed administrator of Woolworths.

Woolies has announced its half year results, showing a slight dip in sales and increased losses.

Woolworths commercial director Steve Jebson says toys can become its biggest seller over the next few years.

Woolworths has returned as an online business today, six months after the High Street retailer?s administration.

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