The Asda supermarket chain, owned by the world's biggest retailer, Wal-Mart in the US, is said to be the front runner to bid for the troubled high street retailer Woolworths.

Speaking on Skynews' Jeff Randall Live, Asda chief Andy Bond said he was seeking to expand the company but stopped short of confirming the reports.

'I obviously wouldn't comment on particular speculation about Woolworths but in terms of general growth, we do still have some success at opening new food stores and it's worthwhile understanding that most of our stores are actually built on brown-field sites.' Bond said. 'There are always opportunities to build new stores and we do that wherever we can.'

Randall, The Daily Telegraph editor at large said: 'I know Asda is to buy Woolworth's stores. It has been trying to expand in the UK for years but always runs up against planning problems. These stores offer it the opportunity.'

Further reading:

Deloitte confident of salvaging Woolworths

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