Woolworths to re-emerge as online store
Date published: 02 February 2009
It's not quite the end for Woolworths plc
It may have looked like the end for Woolworths, but it has been announced today that the famous brand name has been sold, and will re-launch as an online store.
The Joint Administrators to Woolworths plc revealed this morning (Monday 2 February), the Woolworths name, along with the Ladybird childrenswear brand, has been bought by Shop Direct Group, the UK’s largest online and home shopping retailer.
The Shop Direct Group plans to re-launch Woolworths as an online store selling a range of products including the Ladybird children’s label.
Neville Kahn, Deloitte Partner and Joint Administrator, commented: “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.”
She added: “The process of selling the Woolworths property portfolio continues with former stores under offer from prospective purchasers. We are currently bound by confidentiality agreements regarding the numbers and locations of stores under offer while negotiations continue.”
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