Brit retailer Woolworths in crunch talks.Byline: ANI London, Nov.19 (ANI): Woolworths, one of the United Kingdom's largest retailers with 800 shops, is in talks to sell its troubled retail arm to restructuring specialist Hilco. According to The Telegraph, the talks are still at a "very early stage". Any deal is likely to see the retail business sold to Hilco for a nominal sum. But even if Hilco and the Woolworths board can agree on a deal they will also have to secure the support of the retailer's lenders, the paper said. Although best known for its retail business the group's media and distribution businesses - DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. publisher 2entertain and EUK EUK Eisenbahn Unfallkasse (German) , a specialist distributor - generate the majority of the group's profits. Hilco specialises in restructuring retail businesses. Earlier this year it bought fashion chain Mk One. Three weeks after acquiring the business Hilco placed the chain into administration. Hilco were also involved in the recent restructuring of MFI. (ANI) Copyright 2008 Asian News International The Asian News International (ANI) agency provides multimedia news to China and 50 bureaus in India. It covers virtually all of South Asia since its foundation and presently claims, on its official website, to be the leading South Asia-wide news agency. (ANI) - All Rights Reserved. Provided by Syndigate.info an Albawaba.com company |
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