publishing businesses and a reduced debt load. Ardeshir Naghshineh criticised the plan, recommending instead that the company sell some of the stores to raise more funds. The group's banks, GMAC and Burdale, rejected the deal and recalled their loans, forcing the group to place the retail business and Entertainment UK into administration. On 26 November 2008, the trading of shares in Woolworths PLC was suspended, and Neville Kahn, Dan Butters and Nick Dargan of Deloitte were appointed joint administrators. When the company entered administration it had a debt of £385 million. The administrators announced that they were aiming to keep the company as a going concern over the crucial Christmas period, although analysts feared that any heavy discounting would create a domino effect and drag down other high street retailers. Deloitte later announced they had received "substantial interest" in Woolworths. When news of Woolworths' entry into administration was widely publicised, National Lottery operator Camelot immediately suspended Woolworths from selling their lottery tickets and scratch cards, as well as preventing claimants from redeeming prizes at the stores. On 5 December 2008, Woolworths recorded their greatest single day takings of £27 million, and axed 450 head office and support staff jobs. A closing-down sale started on 11 December. On 17 December 2008, administrators announced that all 807 Woolworths stores would close by 5 January 2009 (later changed to 6 January), with 27,000 job losses. Deloitte's Neville Kahn also said that it was unclear how much of Woolworths' debt would be paid. In the last few days of trading discounts of up to 90% were offered, and a number of stores sold all of their stock, many selling all of their fixtures and fittings too. The stores were closed in phases, and the final two closing days were moved back a day to try to sell more of the remaining stock and to ease logistics of closing. 207 stores closed on 27 December 2008 37 closed on 29 December 164 closed on 30 December 200 closed on 3 January 2009 remaining stores (199) closed on 6 January 2009 The former chief executive of Kingfisher, Woolworths' former parent company, and Ardeshir Naghshineh, a major shareholder of Woolworths, criticised the closures. On 19 January 2009, the owner, Woolworths Group, announced its intention to also enter administration, as it could no longer pay its debts. The application was heard by the High Court on 27 January,