Baugur: the iceman cometh...
August 19, 2008
Some City analysts wrote off Woolworths as a lost cause a long time ago. But Malcolm Walker, chief executive of the frozen food specialist Iceland, and Baugur, the Icelandic retail investment group, clearly have not, and this weekend it emerged that they had made an offer to purchase Woolworths' retail division. Woolworths rejected the offer yesterday.
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Woolworths shares dive to all-time low after warning of 'marked' downturn
Woolworths had a day to forget yesterday, when it posted a profit warning, revealed dire recent trading, and tore up plans to sell its £200m stake in DVD publisher 2 entertain.
Woolworths may plunge into a retail bucket
If Steve Johnson wondered what he had let himself in for by agreeing to be the new chief executive of Woolworths, it was laid bare yesterday. According to one City analyst, he has no choice but to rip up the group's tried-and-tested model and become a bucket shop. 
Woolworths still eyeing The Warehouse
Cashed-up retailer Woolworths is still likely to make a tilt at the New Zealand general merchandise retailer The Warehouse, an investment house says.
Woolworths fined for breaking FSA rules
Woolworths has been fined £350,000 by the Financial Services Authority for taking too long to disclose that its profits would be lower than expected.
Woolworths dives as it confirms...
Woolworths this morning confirmed a report in The Times that it is in
talks to sell its retail business.
Woolworths in talks to sell retail...
Woolworths is in talks to sell its entire high street business to Hilco, the
specialist distressed fund, for £1.
Woolworths in talks over £1 offer...
Woolworths’ biggest shareholder was locked in meetings with advisers last night over how best to fight Hilco’s £1 offer for the company’s retail arm.
Woolworths in crisis rescue talks
THE management of Woolworths was locked in crisis talks this weekend about
securing a revised rescue deal to save the group from imminent collapse into
administration.
Woolworths angers shareholders by rejecting Iceland founder's approach
Woolworths faces a showdown with its biggest shareholders after the ailing retailer rejected a takeover approach for its 815 stores yesterday from Malcolm Walker, the founder of the Iceland frozen-food chain.
Woolworths rejects offer by Iceland chief Walker
Woolworths has rejected a surprise offer to acquire its retail division by Malcolm Walker, chief executive of the frozen food specialist Iceland.
Woolworths investor touts alternative...
Woolworths’ largest shareholder, Ardeshir Naghshineh, is in talks with the
retailer’s banks about an alternative plan to a sale the company’s retail
arm to Hilco for...
Woolworths' main shareholder in bank...
Ardeshir Naghshineh, Woolworths' largest shareholder, is in last-ditch talks
with the retailer's banks about an alternative to a sale of the high street
chain's retail arm to...
Woolworths stands on brink as wage...
Woolworths is at risk of going into administration as soon as this morning as
it scrabbles to find sufficient funds to pay its monthly wage bill.
Woolworths stores to close after...
Woolworths went into administration last night, putting thousands of high
street jobs at risk despite last-ditch government efforts to save it.
Potential buyers emerge to save...
The new management of Woolworths today revealed it has already received
several expressions of interests from parties about buying parts of the
business which collapsed last...
Film distributor is victim of...
The fallout from the collapse of Woolworths spread this morning as Metrodome,
a UK-listed film and television distributor, warned it risked losing
£320,000 it was owed by the...
New profit warning as Woolworths abandons 2entertain sale
Woolworths lurched deeper into crisis yesterday as it abandoned the planned sale of 2entertain, its DVD publishing business, and admitted that a recent collapse in sales meant that it would again miss its profit targets.
Woolworths rocked as senior director quits
One of Woolworths’ most senior directors has quit only a month after the high street retailer’s new chief executive savaged the poor performance of the group.
Bidders sought as beleaguered...
The starting pistol was fired yesterday for the sale of Woolworths and MFI as
the court-appointed managers sought buyers for the beleaguered stores.
Woolworths says it is still open to...
Richard North, the chairman of Woolworths, said that the door remained open to
bidders for the business as he defended the board's decision to reject an
offer from Malcolm...
UK retailer Woolworths rejects...
British retailer Woolworths Group PLC's share price shot up as much as 23 percent on Monday, after it rejected an offer from Iceland Foods Ltd for its retail division. By noon...
Iceland 'in bid for Woolworths'
The boss of the Iceland frozen food chain offers to buy troubled retailer Woolworths' network of 815 stores, reports say.
Malcolm Walker pushes for Woolworths...
THE founder of the Iceland food chain, Malcolm Walker, would slash overheads
and considerably narrow the product range in order to revive Woolworths,
should he succeed in his...
Steve Johnson takes £9m challenge to...
The executive who sold Focus DIY for £1 last year is on his way to becoming a
£9 million man after landing the top job at Woolworths.