It's reported the surviving part of the collapsed Woolworths empire could be placed in administration by the end of the week.
The move could hit the chain's pension fund.
The group's 40 per cent stake in 2Entertain media publishing business is understood to be at risk, as the firm is said to be at loggerheads with joint owner BBC Worldwide over the sale of its shareholding.
Last week, it was confirmed the Isle of Man branch of Woolworths will be open until Christmas while administrators Deloitte search for a buyer.
There has been a Woolworths over here for around 85 years and the store currently employs more than 50 staff.
Hospitality bosses to attend 'call to arms' meeting
Rate of inflation falls to 3.2%
Business will suffer 'significant' loss during the TT
TT merchandise provider makes upfront payment for contract
Hunt for new Steam Packet non-executives
Public disappointment after decision to sell ex-Newson's buildings
