TRADING IN shares of Woolworths Group Plc, the struggling British retailer, were suspended yesterday while talks were continuing to save the business from collapse.

The 99-year-old group, which still sells more sweets than any other British retailer and has top five positions in toys, children's clothing, homewares and entertainment products, confirmed that it remains in discussions regarding the potential sale of its 800-store retail business to restructuring specialist Hilco UK for a nominal sum.

Woolworths said it was also in talks with the BBC regarding the possible sale of its 40 per cent interest in the 2 Entertain DVD publishing joint venture with BBC Worldwide, the broadcaster's commercial arm.

"Whilst discussions in relation to such sales are being pursued with vigour, terms have not yet been agreed," the group said in a statement.

"Both sales are subject, amongst other things, to the approval of the group's lending banks ."

Woolworths has bank debts of £385 million (€456.9 million).

Pending the outcome of the talks it has requested a suspension in the trading of its shares.

Bank of Ireland said yesterday that it does not comment on dealings with its clients. - (Reuters)