Woolworths, the British retailer that closed all its 815 stores last month, will be resurrected as an online brand exactly 100 years after opening its first outlet.
Shop Direct Group, the home shopping company owned by the billionaire twins David and Frederick Barclay, said Monday that it had acquired the Woolworths brand for "an undisclosed sum" and planned to start online sales under the name in the summer.
Andy Wade, an analyst at Numis Securities in London, said: "Woolworths still has strong value and reputation as a brand. And by reinventing it online, Shop Direct gets that trusted name but also loses the major problems like a massive store portfolio. It's a really good move."
Woolworths, which opened its first British shop in Liverpool in 1909, closed its doors for the last time after administrators failed to attract a bid that would have saved more than 25,000 jobs.
The retailer was the highest-profile casualty of a slump in consumer spending that last month also led to the collapse of Barratts Shoes, Land of Leather Holdings and Adams Childrenswear.
"Woolworths is a much-loved brand that engenders huge affection among British consumers and is an important part of the country's retail heritage," Shop Direct's chief executive, Mark Newton-Jones, said in a statement.
"We are confident that Woolworths, as an online brand, will once again prosper."
Shop Direct also acquired the Woolworths children's clothing label Ladybird and will sell it brand online, the administrator, Deloitte, said in a separate statement.
Shop Direct owns the Kays and Littlewoods shopping catalogs.
Deloitte is continuing to seek buyers for empty Woolworths stores and said Monday that an undisclosed number of properties were "under offer from prospective purchasers."
Iceland Foods, the British frozen-foods chain, bought 51 Woolworths stores last month, and the Swedish fashion retailer Hennes & Mauritz said last week that it had agreed to take over 3 stores.
