Dragon may bid for struggling Woolworths

Dragons' Den entrepreneur Theo Paphitis is expected to place a bid to buy out part of struggling retailer Woolworths.

The Dragon is among a number of parties interested in rescuing some of the chain's stores.

A BBC correspondent confirmed that Paphitis had registered his interest in the firm: "Deloitte are up against the clock to secure deals, with many suppliers already refusing to deliver to Woolworths."

Deloitte, the chain's administrator, will resume talks today with a number of parties who have shown "substantial interest" in the firm.

The entrepreneur has previously revived the fortunes of stationers Ryman and Partners and La Senza.