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| Woolworths to be re-born online | Woolworths to be re-born online |
| (10 minutes later) | |
| Woolworths is to be re-launched as an online retailer after being bought by the owners of the Daily Telegraph, Sir David and Sir Frederick Barclay. | Woolworths is to be re-launched as an online retailer after being bought by the owners of the Daily Telegraph, Sir David and Sir Frederick Barclay. |
| The much-loved High Street chain went into administration in November and its more than 800 stores closed a month ago after struggling with debts of £385m. | The much-loved High Street chain went into administration in November and its more than 800 stores closed a month ago after struggling with debts of £385m. |
| It is thought only a fraction of the former total of almost 30,000 staff will get their jobs back. | It is thought only a fraction of the former total of almost 30,000 staff will get their jobs back. |
| Woolworths' children's clothing label Ladybird is also to be re-born online. | Woolworths' children's clothing label Ladybird is also to be re-born online. |
| FROM THE TODAY PROGRAMME More from Today programme | FROM THE TODAY PROGRAMME More from Today programme |
| The brands are being bought by Shop Direct Group, owned by the Barclay twins, for an undisclosed sum. | The brands are being bought by Shop Direct Group, owned by the Barclay twins, for an undisclosed sum. |
| They will sit alongside their other online retailers, including Great Universal and Marshall Ward. | They will sit alongside their other online retailers, including Great Universal and Marshall Ward. |
| Shop Direct, formerly Littlewoods Home Shopping, last week announced that it would cut 1,150 jobs in north-west England, mainly from its Crosby call centre. | Shop Direct, formerly Littlewoods Home Shopping, last week announced that it would cut 1,150 jobs in north-west England, mainly from its Crosby call centre. |
| 'Prosper again' | |
| The company's chief executive Mark Newton-Jones said he was confident about Woolworths' future. | The company's chief executive Mark Newton-Jones said he was confident about Woolworths' future. |
| "This is great news and we are confident that Woolworths, as an online brand, will once again prosper and quite rightly stay at the heart of British retailing." | "This is great news and we are confident that Woolworths, as an online brand, will once again prosper and quite rightly stay at the heart of British retailing." |
| He said it was hoped to launch the new venture by the summer. | He said it was hoped to launch the new venture by the summer. |
| "It would have been a tragedy should the name have disappeared," Mr Newton-Jones said. "It is an iconic name." | "It would have been a tragedy should the name have disappeared," Mr Newton-Jones said. "It is an iconic name." |
| Details of the new product ranges to be offered will be announced in the next few months. | |
| Supply issues | |
| The Woolworths' store closures followed a clearance sale which saw stock and fixtures and fittings being sold at discount prices. | The Woolworths' store closures followed a clearance sale which saw stock and fixtures and fittings being sold at discount prices. |
| Empty stores in prime High Street locations are tipped to be reopened by other businesses, with frozen food chain Iceland to take over 51 stores. | Empty stores in prime High Street locations are tipped to be reopened by other businesses, with frozen food chain Iceland to take over 51 stores. |
| Debt-laden Woolworths saw its difficulties compounded last year when it was forced to pay cash while buying goods from suppliers. | Debt-laden Woolworths saw its difficulties compounded last year when it was forced to pay cash while buying goods from suppliers. |
| Trade credit insurers were no longer prepared to cover its suppliers in case Woolworths was unable to pay for the stock. | Trade credit insurers were no longer prepared to cover its suppliers in case Woolworths was unable to pay for the stock. |