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Sir Alan buys Woolies slice
SIR ALAN SUGAR has acquired a four per cent stake in troubled high street retailers Woolworths.
It is understood the founder of Amstrad and star of the TV series The Apprentice informed the company yesterday of his stake-building when he exceeded the three per cent mark.
Shares in Woolworths have fallen by more than 80 per cent over the last year – closing yesterday at 3.14p.
The retailer's largest investor is Ardeshir Naghshineh, an Iranian property developer with a 10.2 stake.
Unity, a consortium headed by Icelandic investor Baugur, has a 10 per cent stake.
The company said last month that like-for-like sales had slumped by 3.2 per cent in the 26 weeks to August 2.
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Saturday 26 May 2012
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