Islanders fear for Woolworths, a ‘local institution’

Friday 28th November 2008, 11:30AM GMT.

SHOPPERS were hopeful that High Street institution Woolworths could be saved.

Its administrators, Deloitte & Touche, confirmed they were hoping for a purchaser for the 800 stores and its distribution centres.

‘We will be looking for a suitable buyer for all parts of the business,’ said Dan Butters, reorganisation services partner at Deloitte.

‘In the last 24 hours we have received expressions of interest from a number of parties for both the retail and wholesale businesses.

‘We are working hard to ensure that any sale of the business, in whole or part, will preserve jobs.’

All 25,000 staff have been told that they will be paid until after Christmas.

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