Woolworths is rising from the grave as an online only store after being bought out by the owners of the Daily Telegraph.
Woolies has been bought out by Shop Direct Group, owned by the Barclay brothers, who also own the national newspaper, and will relaunch as an online only venture in the summer.
There’re no details as to what it will sell yet, other than its childrens’ clothing line, Ladybird, but the Woolworths website is offering visitors the chance to tell the company what they would like to see.
There’s no reason why it couldn’t survive in this form – Dixons has managed the transition after all, selling everything it did before, but online rather than through brick and mortar stores.
Woolworths went into administration back in November when its debts creeped up to £385m, but the almost 30,000 staff hoping to get their jobs back might not be so lucky though, as even Shop Direct is making job cuts at the moment.
Out Summer | £TBC | Woolworths (Via BBC News)
