Having gone into administration but a couple of months ago, the future of Woolworths was a little uncertain, but there seems to be a glimmer of light at the end of the tunnel. While Woolworths' days as a brick and mortar retailer are done and dusted, the brand will live on as an online-only store.
The Woolworths brand, and its children's clothing line Ladybird, has been purchased by Shop Direct Group, owned by Sirs David and Frederick Barclays. Other than the name, nothing of the original business will be preserved, so the value of the investment is debatable.
Speaking to the BBC, Shop Direct's Mark Newton-Jones explained the decision, commenting: "It would have been a tragedy should the name have disappeared." Asked to explain exactly what the re-launched online Woolworths store would offer Newton-Jones explained: "what we're looking to do is encourage customers to come to us and tell us what they would like to see from Woolworths and what they liked and disliked and we've set a website up already. You can come and register online with us this morning and tell us the sort of products you'd like to see."