The insolvencies of Woolworths and MFI present their newly appointed administrators with some tough tasks.

Dozens of staff from the two insolvency firms concerned are busily putting themselves in the shoes of the former management.

Their task is to try to retrieve something for the creditors - banks, other lenders, suppliers and customers, and possibly the taxman too.

All that means dealing with staff, including making some redundant, running or shutting stores as appropriate, moving stock around, and assessing the levels of debts and the value of assets in the companies.

'On the hoof'

The administrators will be talking to creditors, suppliers, customers and, most importantly, trying to find a buyer for all or parts of the now insolvent businesses.



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