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Can Woolworths be saved?

As the demise of UK retail stalwart Woolworths continues to dominate the financial press headlines, there are suggestions that the rescue bids are already in the offing and could materialise at any time. There is even a suggestion that one of the stars of "The Dragon's Den" may well be ready to step forward with an offer for the group.

If a potential buyer was able to negotiate a price which substantially reduced the debt associated with the business this would give them a major advantage in the short to medium term. The administrators have a duty to consider offers but they also have a duty to ensure that these are viable and stand every chance of being successful in the short, medium and longer term. Whether such rescue offers come forward in the current climate remains to be seen and the attitude of the banks will also be vital.

For those willing to try and refloat the old Woolworths business there is the potential of to rebuild what was one of the U.K.'s major retailers for many decades. A mixture of underinvestment and inability to keep pace with modern technology seems to have been the major down fall of the group.

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