TV Dragon wants to snap up Woolworths

Television business guru Theo Paphitis is reported to be amongst a number of potential bidders for Woolworths.
According to The Sunday Telegraph, the Dragons’ Den celebrity has had a meeting with the retailer’s administrator, Deloitte, which has a team of over 100 working on the administration and potential sale.

Paphitis is said to be interested chiefly in the high street stores.

Also showing an interest is Ardeshir Naghshineh, who had a 10% stake in Woolworths before it collapsed into administration last week.

Deloitte says it has received more than a dozen inquiries regarding Woolworths, with retailers such as Boots and WH Smith thought to be interested, along with some supermarkets.

Deloitte partner Neville Kahn said: “We remain very confident that we can sell the business to someone who will keep it as a going concern. We have commitments to keep Woolworths trading until after Christmas, by which time we should have a buyer.”

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