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02/02/2009
Woolworths To Return Online
Failed retailer Woolworths is to return as an online retailer, in an unexpected move, following the acquisition of the name by Shop Direct.
Just weeks after the company went into administration, which saw the closure of more than 800 stores, Daily Telegraph owners Sir David and Sir Frederick Barclay confirmed they have bought the brand.
Woolworth's children's clothing label Ladybird and the pick-and-mix are also being re-launched online, as part of the deal.
Shop Direct, whose other brands include Littlewoods and Kays, purchased the brand from administrators, for an undisclosed sum.
"Woolworths is a much-loved brand that engenders huge affection among British consumers and is an important part of the country's retail heritage," said Shop Direct Chief Executive Mark Newton-Jones.
"In what will be Woolworths' 100th year, we are proud to be reviving the brand for future generations."
Woolworths went into administration in November after struggling with debts of £385 million.
The closure also triggered the loss of more than 27,000 jobs.
"Joint administrator Neville Kahn, of Deloitte, said: "We are pleased to have achieved a deal, which will enable the Woolworths and Ladybird childrenswear brand names to continue.
"It is clear that the British public has a great affection for Woolworths and we are delighted that the Shop Direct Group will be keeping the name alive."
"The process of selling the Woolworths property portfolio continues with former stores under offer from prospective purchasers."
See: Woolworths Stores 'To Be Closed By Early January'
(JM/BMcC)
Just weeks after the company went into administration, which saw the closure of more than 800 stores, Daily Telegraph owners Sir David and Sir Frederick Barclay confirmed they have bought the brand.
Woolworth's children's clothing label Ladybird and the pick-and-mix are also being re-launched online, as part of the deal.
Shop Direct, whose other brands include Littlewoods and Kays, purchased the brand from administrators, for an undisclosed sum.
"Woolworths is a much-loved brand that engenders huge affection among British consumers and is an important part of the country's retail heritage," said Shop Direct Chief Executive Mark Newton-Jones.
"In what will be Woolworths' 100th year, we are proud to be reviving the brand for future generations."
Woolworths went into administration in November after struggling with debts of £385 million.
The closure also triggered the loss of more than 27,000 jobs.
"Joint administrator Neville Kahn, of Deloitte, said: "We are pleased to have achieved a deal, which will enable the Woolworths and Ladybird childrenswear brand names to continue.
"It is clear that the British public has a great affection for Woolworths and we are delighted that the Shop Direct Group will be keeping the name alive."
"The process of selling the Woolworths property portfolio continues with former stores under offer from prospective purchasers."
See: Woolworths Stores 'To Be Closed By Early January'
(JM/BMcC)
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Kingfisher approve Woolworths chain demerger
Kingfisher investors have approved the demerger of the Woolworths chain stores in the UK. Shares in the retail chain store will begin trading next Tuesday. Former Railtrack boss Gerald Corbett, who joined in March to oversee the demerger, will head the newly separated business. However, despite turnover of around 2.
Kingfisher approve Woolworths chain demerger
Kingfisher investors have approved the demerger of the Woolworths chain stores in the UK. Shares in the retail chain store will begin trading next Tuesday. Former Railtrack boss Gerald Corbett, who joined in March to oversee the demerger, will head the newly separated business. However, despite turnover of around 2.
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