"The joint administrators to Woolworths Plc have today announced the sale of the Woolworths brand name and the Ladybird childrenswear brand to Shop Direct Group, the UK's largest online and home shopping retailer," Deloitte said in a statement.
"The Shop Direct Group plans to re-launch Woolworths as an online store selling a range of products including the Ladybird children's label," it added.
Woolworths, which was hit hard by the recession and weak consumer spending, collapsed last month with the closure of its 800 stores dotted across Britain and the loss of 27,000 jobs.
Shop Direct Group, which runs British catalogue brands including Kays, Littlewoods and Marshall Ward, has 10,500 staff and about five million customers in Britain.
"We are pleased to have achieved a deal which will enable the Woolworths and Ladybird childrenswear brand names to continue," Deloitte partner Neville Kahn said in the statement.
"It is clear that the British public has a great affection for Woolworths and we are delighted that the Shop Direct Group will be keeping the name alive."
Source: AFP
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