Woolworths lives again, but only on the internet
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Independent Minds
Woolworths is to be relaunched as an online business this summer after the brand was bought by Shop Direct Group in a deal that kills any lingering hopes of reviving the pic'n'mix retailer on the high street.
The home shopping retailer Shop Direct, which is owned by the Barclay brothers, the business tycoons, has also bought the childrenswear brand Ladybird from Woolworth Group. It is likely to have paid millions of pounds for each brand, but declined to provide figures. Last month, Home Retail Group, the owner of Argos and Homebase, acquired the Chad Valley toy brand from Woolworths for £5m.
Mark Newton-Jones, chief executive of Shop Direct, formerly known as Littlewoods Shop Direct, said: "It [the product offer] will be more targeted than the previous offer. It will definitely have childrenswear and definitely have entertainment, but I really don't think we will be selling washing up bowls and light bulbs."
The sale of the Woolworths brand is the final nail in the coffin of ex-directors and investors who had tried tosalvage a small high-street business from the wreckage of the 800-storeretail chain, which collapsed into administration at the end of November. All of Woolworths' stores had closed by early January. Tony Page, the former Woolworths commercial director, was reported to have secured backing and made an offer to Deloitte last week for the Woolworths brand, but his hopes were dashed.
Sir Geoff Mulcahy, who ran Woolworths for two decades, also held talks with Ardeshir Naghshineh, Woolworths' biggest shareholder, about a possible rescue plan.
Yesterday, Shop Direct relaunched Woolworths.co.uk, asking consumers to register and give their feedback about what they liked or disliked about Woolworths. Mr Newton-Jones said: "Woolworths is a much-loved brand thatengenders huge affection among British consumers."
Separately, Deloitte, the administrator to Woolworths, was scheduled to hold a creditors' meeting at Alexandra Palace, north London, today. Last night the accountancy firm said the meeting would go ahead, despite the severe snowfall in the capital.
The creditors to the company include 27,000 staff and about 500 businesses which are owed money by Woolworths Group.
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Comments
do the older people have the interenet the answer is no
there is a place for this great shop and needs to be on the high st not on the net they are kidding themselfs that this will work.
from my understanding is the same group was offered to deliver the goods for woolies under thier big red book in which millons of pounds was put into it.
it is very upsetting to see the shops closed that once was a great place to go
that facts are the bank that put the plug is the same bank that owns iceland and the above
no wonder the main share holders are upset along with the customers and staff as this was a shop that had a place on the high st and is a lost to us and other retailers.
wonder if an investgation should be sort into the lost of woolies and the sale and the break up
the only people that are happy is the bank and iceland and deloitte
if these bothers have any thought at all let Tony Page run a few stores and let battle being i know who will win do you??
i would of liked the govement body should of got involved when del boy let down the invester to buy the woolworth,it would of saved govement a lot of money,27000 people are out of work,del boy sould give some money to the woolworth workers a least a years wage.coming to the share holder thay should of had a right ,for all the information about woolworth ,del doy never listened to share holder
thay should of had a percentage of woolworth brand that was sold, share holder never had figures how much the brand was sold thay have a right for every information.del boy is lauthing with the dollers in the bank.mr brown let see you do something.come on inland revenue roll up your sleeves.