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Woolworths rises from the ashes

In a move which has stunned many in the retail sector it has been revealed that Woolworths has been acquired by online retailer Shop Direct and will be reborn as an online entity. Shop Direct is the owner of Littlewoods and is looking to relaunch the Woolworth's brand name in the virtual arena over the next few weeks.

Unfortunately for the 30,000+ former Woolworths employees the fact that the business will be reborn as an online entity will very much limit the potential to take on ex-Woolworths staff in the new business. At the same time as acquiring the Woolworths name, Shop Direct has also bought the Ladybird name and will continue to sell the popular brand of childrenswear which was part of the Woolworths empire.

It seems as though comparisons between the new and old Woolworths will be fairly stark with the new company set to focus on a substantially smaller range of products, rather than the scattergun approach which many believe played a major part in the company's downfall. While no financial terms for the purchase were announced many will be pleased to see the rebirth of one of the U.K.'s most popular retail names in the new technology world.

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