Bank of Ireland division Burdale Financial and GMAC Commercial Finance appoint corporate restructuring arm ahead of discussions to settle Woolworth’s business plan and 2009 budget.
The companies - two of the retail chain's biggest lenders - are to be included in talks about Woolworth's financial plans after providing a joint sum of £385m as part of a restructuring plan announced at the beginning of the year.

Deloitte has already held its first meeting with financial advisers KPMG, who have been appointed by Woolworths, although it is not expected that the team will meet with the retailer's board members, including chief executive Steve Johnson.

Further meetings will take place before the high street chain's business plan and budget are agreed on in December.

A spokesman for Woolworths said: "We're working as normal with our lenders who continue to be supportive."

Woolworths added that it is 'comfortable with the financial and cash position of the company'.

The company has seen a recent reshuffling of management as four senior executives depart in just two weeks.

Group finance director Stephen East, property director Colin Carter, corporate finance director David Roberts and James Collins, director of business development have all left, following what has been described as Steve Johnson's aim to simplify the structure of the business.