Woolworths brand bought by Telegraph owners

Woolworths is to be relaunched as an online brand after being bought by the owners of The Daily Telegraph.

The high street name, which went into administration in November after struggling to repay its £380m debts, is to be purchased by the Shop Direct Group ,owned by Sir David and Sir Frederick Barclay.

Woolworths’ children’s clothing brand Ladybird is also to launch online and will take its place alongside the Barclay brothers other online brands, including Great Universal.

More than 800 Woolworths stores closed in January after clearance sales.

Frozen food retailer Iceland bought 51 stores last month.

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