Woolworths stores may find a buyer

Court appointed administrators said Thursday that several buyers had shown interest in purchasing struggling British retailer Woolworths.

Woolworths, with a staff or 30,000 and 840 stores in operation, filed for court protection from its debtors Thursday, The Times of London reported.

The retailer also operates EUK, a CD and DVD wholesale distribution business.

In spite of a slumping economy, however, in the last 24 hours we have received expressions of interest from a number of parties for both the retail and wholesale businesses, said Dan Butters, a partner at Deloitte, the accounting firm appointed to find a buyer for the company.

Neville Kahn of Deloitte, said the retailer's employees would be paid their November wages in full, the Times reported.

Woolworths' retirees, however, may be in jeopardy, The Times said.

The retailer's pension fund was running a $154 million deficit, although the company agreed to pay $77 million to pension fund trustees as part of a sale of its publishing business 2Entertain to the British Broadcasting Corp., The Times said.

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