Deloitte, administrator to collapsed retailer Woolworths, has appointed restructuring business Hilco and property agent CB Richard Ellis to advise on the disposal of the business.

The variety retailer and high street veteran went into administration yesterday.

The retail arm of the company operates from around 800 mainly leasehold high street stores and four distribution centres, employing 25,000 staff.

Neville Kahn, reorganisation services partner at Deloitte, said at the time: 'Woolworths has suffered a number of cash flow problems.

'Strenuous efforts over recent weeks to keep these companies going have unfortunately failed and the businesses are now looking to be rescued under the administration process.

'The companies were placed into administration this morning and will continue to trade.

'Stores will remain open past Christmas and employees in stores will be paid.'

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