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The weekend newspaper round up - December 6-7

The best of the fashion business related headlines from the weekend's papers...

The Daily Telegraph reported that former vice chairman of Tottenham Hotspur football club David Buchler, will submit a bid this week for up to 400 Woolworths stores and save 20,000 jobs at the chain.

Buchler is leading a consortium which includes a prominent US retail executive and has held talks with administrator Deloitte according to the newspaper. He plans to retain the Woolworths brand. Buchler has held talks with senior Woolworths management, who could help him run stores.

The consortium has £100 million to spend on the bid. It will not take on any of the £385m debt or £100m pension liabilities, according to the newspaper.

The Sunday Express said that shoppers went on a "recession-busting" spending spree on Saturday, with UK stores taking more than £1 billion.

The newspaper said that shoppers took advantage of VAT reductions and high street discounting and were spurred on by Thursday's interest rate cut. The report added that sales in the run up to Christmas were likely to beat last year's £13bn.

The newspaper also said that JJB Sports was expected to record a decline in sales at a trading update on Wednesday. It reported that one analyst expected the figures to be "dire".

The Sunday Times said that the British Retail Consortium's monthly sales monitor which is due out tomorrow, will show that November's like-for-like sales performance will be the weakest since April 2005.

The Observer reported Woolworths' Sale of up to 50% pulled in close to £30 million, the company's biggest trading day in a century.

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