UK millionaire Sugar buys Woolworths stake -source

Alan Sugar, the millionaire founder of Amstrad computers and host of BBC television's The Apprentice, has purchased a near 4 percent stake in Woolworths Group Plc, an industry source said on Friday.

Shares in British sweets-to-DVD retailer Woolworths have lost 83 percent of their value over the last year.

At 0812 GMT they were up 0.03 pence at 3.21 pence, valuing the business at 46 million pounds.

Last month Woolworths posted a record first-half underlying loss and suspended its dividend payment.

Earlier this week it said it was comfortable with its financial and cash positions and was continuing to trade normally with its suppliers despite their loss of credit insurance cover.

A stock exchange statement confirming Sugar's purchase is expected as early as Friday, the source said.

Woolworths declined to comment and Sugar was not immediately available to comment.