Gordon Bros eyes German Woolworth stores -source
* Gordon Brothers eyes 130 small stores -source
* Woolworth administrator spokesman declines to comment
FRANKFURT, May 28 (Reuters) - A consortium led by restructuring and liquidation specialist Gordon Brothers is interested in parts of insolvent German department store chain Woolworth, a source close to the matter told Reuters.
The consortium was eyeing around 130 small stores out of the total 311 and had already been in touch with administrator Ottmar Hermann, the source said on Thursday.
A spokesman for the administrator declined to comment.
Woolworth, owned by British investor Argyll Partners, ran out of cash in April after struggling with falling sales as supermarkets, discounters and other specialist retailers snatched away customers.
Administrator Hermann last week asked Woolworth's staff to join a temporary training company from which future investors could then hire.
Retailers Tengelmann, Rossmann and DM have also expressed interested in Woolworth stores, according to media reports. Continued...
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