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Business as usual at 2Entertain despite co-owner administration
By CMU Editorial | Published on Wednesday 28 January 2009
The Woolworths Group, the parent company of the now defunct Woolies retail chain and music distributor eUK, went into administration yesterday, with Deloitte brought in to wind everything up.
With most of the Woolworths empire already dismantled that’s only really news in relation to 2Entertain, the DVD and music company jointly owned by the Woolworths Group and the BBC’s commercial division BBC Worldwide. 2Entertain is a video publisher, and also owns a production company and the Demon Music Group, one of the UK’s biggest independent record companies.
2Entertain has so far managed to generally avoid being affected by the chaos caused by the liquidation of its co-owner and sister firms, and the management there yesterday insisted that while the Woolworths Group was in administration it remained a going concern.
BBC Worldwide is in talks with the Woolies administrator regarding the sale of the former retailer’s 40% stake.
A spokesman for the Beeb said yesterday: “BBC Worldwide would like to make it clear that that 2Entertain is not in administration. 2Entertain remains a profitable and well funded business and BBC Worldwide remains in talks with the administrator of Woolworths Group plc regarding the sale of the company’s 40% stake in the joint venture”.
