Woolworths Relaunches as Online Business
February 17, 2009 by Admin
WOOLWORTHS is to be re-launched as a web only business.
Sir David and Sir Patrick Barclay have bought the much-loved chain along with Ladybird, the childrens brand it owned, for a price of “more than £1″, according to Mark Newton Jones, CEO of the Shop Direct group, the Barclays’ shell company used for the acquisition.
However, it is unlikely any staff who were based at the Weston-super-Mare store will retain their jobs, as only a fraction of the 30,000 workforce are expected to be kept on.
The High Street store closed and 65 people were laid off on December 27 after company bosses announced debts of £300million.
The twins, who also own the Daily Telegraph, will add the Woolworths brand aloongside Great Universal and Marshall Ward in their Shop Direct group.
