LONDON (AP) — Woolworths Group PLC announced yesterday it has put its century-old retail business into administration after failed attempts at a fire sale.

The company said that discussions to sell its 800-store retail business had ended without a sale, resulting in the need to put both that business and its EUK subsidiary that distributes music and videos to retailers, in the hands of administrators.

"The boards of Woolworths PLC and Entertainment UK Ltd have concluded that there is no longer any prospect of those businesses being able to operate as a going concern," the company said in a statement.

"Accordingly, the boards of both companies last night resolved to file petitions for administration in the High Court," it added.

However, the company said that parts of the company were not in administration. The company said its 2Entertain DVD publishing joint venture with BBC Worldwide and its Bertram book wholesale business were still operational.

It said it was in ongoing discussions to sell its 40 percent stake in 2Entertain to BBC Worldwide.

Going into administration is similar to filing for bankruptcy — a term which does not apply to companies in Britain. Administrators are appointed to salvage as much of the company as possible for the benefit of its creditors, a process which can involve trying to keep the business as a going concern or breaking it up and selling it off.

Consulting company Deloitte has been appointed as the administrator for Woolworths and Entertainment UK.

Deloitte said it was trying to find buyers for the businesses in order to keep as many of Woolworths 25,000 employees in work as possible.

"In the last 24 hours we have received expressions of interest from a number of parties for both the retail and wholesale businesses," said Dan Butters, a Deloitte partner.

"We are working hard to ensure that any sale of the business, in whole or part, will preserve jobs."

Woolworths shares were suspended on Wednesday at little more than a penny each.