28 November 2008

Freshfields Bruckhaus Deringer and Linklaters have both taken on advisory roles following the collapse of high street chain Woolworths.

Deloitte has asked for the assistance of the two legal firms after being appointed administrator to the troubled retail giant, which called in Deloitte earlier this week after months of financial trouble.

Olswang has also been involved in the fallout of the collapse after acting on behalf of BBC Worldwide, which is believed to have submitted a bid for the 2Entertain branch of Woolworths.

Such a deal would pave the way for restructuring specialist Hilco - which is believed to have submitted a £1 bid for the company earlier in the year - to buy the company. Hilco is currently seeking advice on this issue from CMS Cameron McKenna.

Linklaters recently received the award of restructuring team of the year at the British Legal Awards, which were held earlier in London earlier this week.