Woolworths shares have been suspended as the company continues in talks with its bankers to try and save it from falling into administration.
The company is in talks with BBC Worldwide over the possible sale of 2entertain, its DVD publishing arm.
Hilco, the restructuring company, is in talks over buying Woolworths’ retail stores, and has a reported £1 offer on the table.
Woolworths said: “Both sales are subject, amongst other things, to the approval of the group’s lending banks. Accordingly, there can be no assurance that a sale of the group’s retail business or of its interest in 2entertain will be concluded.”
This week sources said that supermarket supplies could be threatened this Christmas if EUK – Woolworths’ distribution arm – goes into administration.
It supplies Asda, Sainsbury’s and Morrisons with books, DVDs and CDs.
