SOME OF the 25,000 jobs at risk at the Woolworths stores chain may be saved by a break-up sale of the business, but it is clear that thousands will go.
Other victims could include former staff members - there are fears that its pension deficit may be far larger than initially thought, perhaps as much as £250 million (€298 million).
Also affected is Bank of Ireland subsidiary Burdale which, along with GMAC, was lead banker to the group.
Burdale was one of the bookrunners in Woolworths' £350 million refinancing in January 2008 and, although it kept only a small tranche of this, Bank of Ireland also took £27.7 million, according to Emer Lang at Davy.
Lang puts the bank's total exposure at £63.5 million.
There was one lucky escape - Sir Alan Sugar's Amsprop property company splashed out almost £2 million on buying a near 4 per cent stake in Woolworths last month.
But the deal fell though when the Icelandic bank behind the sale failed to deliver the shares, which are now worthless.
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