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Woolies appointing administrators

It's been confirmed

26 November 2008 20:39 GMT / By Katie Scott

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We previously reported that Woolworths was trying to sell its DVD publishing business to BBC Worldwide in a bid to keep the administrators from the door.

The retailer's shares were apparently suspended this morning while it bashed out what could be a £100 million deal.

But now Associated Press is reporting that Woolworths has been forced into appointing administrators. It is understood that it is Deloitte that will act in this role.

However, the Daily Telegraph added that the retailer's joint publishing venture with BBC Worldwide called 2 Entertain, which is the subject of the sale, will not be placed into administration.