Sir Geoff Mulcahy, the former Woolworths chief executive, is set to have talks with the company’s biggest shareholder Ardeshir Naghshineh over a last-minute rescue package for the retailer.
The pair will try to reach a deal to save Woolworths, which has been in administration since the end of November, according to reports.
Last week, Mulcahy launched an attack on administrator Deloitte, saying that the firm’s handling of the Woolworths situation has been “disgraceful”.
Reports also suggest Naghshineh is in discussions with the government to try and get bailout funding to try and save Woolworths.
Deloitte last week confirmed that all stores will close by 5 January 2009, with the probable loss of 27,000 jobs.
