Wednesday January 7th 2009

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Woolworths in talks to sell retail division

Woolworths has confirmed this morning that it is in talks about a possible sale of its retail business.

The statement from the troubled pick and mix retailer did not identify who it was talking to, but speculation around the city puts turnaround specialists Hilco in the frame. The sale price could be a nominal £1.In August Woolies froze out a takeover bid for its 815 stores from Malcolm Walker.

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