Alworths, the ‘son of Woolworths’ chain launched by a former Woolworths director, was due to meet with financial adviser Leonard Curtis to discuss its future as Retail Week went to press.
According to sources, Alworths was meeting with Leonard Curtis to find a way to secure the business, which sources said could involve administration. Alworths is also facing a winding-up notice from supplier Music Box Leisure (MBL).
The variety store group was set up in 2009 by former Woolworths head of store and concession development Andy Latham.
Retail Week revealed earlier this month that the retailer was being restructured and that Latham had resigned as a director of the business. A new company, Retail Acquisitions, was set up and expected to take control of the chain.
Latham and Chris Althorp-Gormlay, boss of private equity firm SKG Capital, are both directors of Retail Acquisitions.
Alworths supplier MBL filed a winding-up notice against the company last week. A hearing is due on May 16. MBL, whose chairman is JD Sports Fashion chairman Peter Cowgill, is facing its own difficulties, after losing a major contract to supply grocer Morrisons this week.
MBL declined to comment and Alworths, Latham and Althorp-Gormlay did not return calls.
No comment was available from Leonard Curtis.