Woolies shares suspended amid talks
Shares in high street retailer Woolworths have been suspended as talks continued over plans to rescue the business.
The ailing firm - in business for almost a century - said it was in discussions over the potential sale of its retail outlets and its 40% stake in the 2 Entertain publishing joint venture with BBC Worldwide.
But Woolworths added that both deals were subject to the approval of its banks and said "there can be no assurance" that the sales would be completed.
Woolworths' crisis talks come as reports suggested furniture company MFI was in danger of going into administration.
Woolworths, which has around 800 outlets, confirmed that BBC Worldwide was the potential buyer of its stake in 2 Entertain.
The firm added: "Pending the outcome of these discussions and the consequent impact on the company's financial position, the company has requested a suspension of the trading of its shares on the London Stock Exchange."
