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Tue 12 Dec 2008B of I says it will recover all its debts from chain
BANK OF Ireland has said it expects to recover all of its debts from Woolworths, the UK retail chain expected to close all of its outlets in the coming week.
Burdale, a UK-based subsidiary of the bank, loaned £385 million (€396 million) to Woolworths in January. However, a spokesman for the bank said the debt had been substantially repaid to Burdale and it expected to recover all of its money.
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