Woolworths to be re-launched as internet company

The renowned Woolworths chain, which closed its doors for the final time last month, is to be re-launched online.

The iconic brand has been bought by twins Sir David and Sir Frederick Barclay, owners of Shop Direct for an undisclosed sum.

As well as the Woolworths brand, the popular children’s clothing label Ladybird will also be re-launched online.

Woolworths, which was one of the UK’s oldest chains, collapsed into administration last November after struggling under a mountain of debt of £385 million and faced severe pressure from competition from large supermarkets and the internet.

The last of the chain’s 800-plus stores closed in early January.

The collapse of the Woolworths brand put nearly 30,000 staff out of work but it is believed that only a small portion of its former staff will get their jobs back.

Shop Direct’s brands include Littlewoods and Kays, and its chief executive, Mark Newton-Jones, said he was confident about Woolworths as an online brand.

It is hoped the new venture will be launched by the summer.

Deloitte, who were appointed administrators for Woolworths, said they were pleased that Shop Direct will enable the Woolworths brand to continue.

Last week, Shop Direct announced a major redundancy programme and the group is looking to concentrate its efforts over the internet.

Sir David and Sir Frederick Barclay also own the Telegraph Media Group.

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