WOOLWORTHS TO BE RE-BORN ONLINE!

The closure of Woolworths prompted huge job losses

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 with debts of £385m.

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.

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The reclusive Barclay twins, who are based in Brecqhou in the Channel Islands, intend re-launching the brand alongside their other online retailers, including Great Universal and Marshall Ward.

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.

Debt-laden Woolworths saw its difficulties compounded last year when it was forced to pay cash while buying goods from suppliers because trade credit insurers were no longer prepared to cover its suppliers.

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