Ardeshir Naghshineh, whose 10% equity stake in Woolworths was wiped out when the company fell into administration last week, is one of several potential bidders lining up to buy the 800-shop retailer.
Deloitte, the accountancy firm that is conducting Woolies' administration, said that it had received "more than a dozen inquiries", with interest coming from raft of rival retailers, private equity firms and individuals.
Naghshineh, a property entrepreneur who owns London's Centrepoint building, is this weekend thought to be putting together a deal team and a financing package. His plan to resurrect the fortunes of Woolies includes the disposal of key leases to rival retailers that would yield around £150m and the sale of the retailer's stake in 2Entertainment, a DVD publisher, to the BBC.
Alongside Naghshineh, John Moulton, the outspoken founder of Alchemy Partners who has expressed an interest in the struggling retailer in the past, is also thought to have registered his interest.
Independent on Sunday, Financial Times