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Dragons' Den star in bid for Woolworths
Rex Features
Theo Paphitis, star of the BBC's Dragons' Den, is among potential bidders lining up to buy Woolworths.
The entrepreneur is in talks with Deloitte to save the brand, the BBC confirmed today, which went into administration on Wednesday.
This would not be the first time that Mr Paphitis has stepped in to revive the fortunes of an ailing retailer. He has built his £100m
fortune on reviving stores such as Ryman and Partners
and La Senza, buying them straight from administrators.
He is among ten potential bidders circling the company. Among these is rumoured to be the high street store's largest shareholder Ardeshir Naghshineh, who owns London's Centrepoint.
Other interest is reportedly coming from supermarkets Sainsbury's, Asda, Tesco and the Co-op, who are all keen to pick up some of the retailer's stores.
Woolworths will keep its shops open for now, at least until Christmas, but its website has already closed.
Monday 1 December 2008
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Woolworths is an institution that needs to be revived not given up on.I would love to meet with the board and pass on my suggestions as to how this awful dilema could possibly be resolved and,once again,put Woolworths back in a position of respectability amongst retailers.
Comment by Mr Nick Thornton on December 01 16:09