WOOLWORTHS followers have been excited after a tweet claimed that the previous retail large was making a comeback – nevertheless it may need been a merciless hoax.
Woolies was a staple of the British excessive avenue. Right here we take a deeper have a look at its historical past and who owns it now.
Former excessive avenue stalwart Woolworths fell into administration in 2008 and closed its shops in January 2009Credit score: PA:Press Affiliation
When did Woolworths shut?
Woolworths fell into administration in 2008, and all 800 of the retailer’s shops closed in January the next yr.
The retailer, well-known for its candy pick-n-mix choice, was a excessive avenue stalwart and offered a wide range of merchandise from kitchen provides to gardening gear to clothes.
However Woolworths confronted spiralling losses as on-line retail grew and the agency confronted difficulties with its suppliers, in response to This Is Money.
It was laden with £385million of debt on the time of its collapse, which left greater than 27,000 unemployed.
Nearly all of the premises are actually owned by different low cost chains together with Poundland and Iceland, in response to BBC reports.
The unique American agency was based in 1879 when FW Woolworth opened a store within the state of Pennsylvania
Who owns Woolworths?
Woolworths opened its first UK retailer in Liverpool in 1909, as a subsidiary of US dad or mum firm FW Woolworth.
The unique American agency was based in 1879 when Frank Woolworth, a gross sales assistant, opened a store within the state of Pennsylvania.
Woolies, because it grew to become recognized, formally got here below British possession in 1982 when it was acquired by Paternoster Shops Ltd.
In 2009, Littlewoods proprietor Store Direct purchased the trademark and offered to prospects on-line via Woolworth.com.
The corporate ran the retail web site however closed it six years later in 2015 and merged it into its Very model.
Is Woolworths opening once more within the UK?
Rumours of a potential comeback for the retailer have been sparked by a mysterious tweet from an account named “Woolworths UK” on Tuesday October 27.
The tweet learn: “Right here to save lots of 2020! Woolworths is coming again to your excessive avenue, as a bodily retailer!”
The Twitter account shouldn’t be verified and the messages are plagued by spelling errors – main many to wonder if it’s a hoax.
This included spelling Woolworths as Woolsworths.
The account mentioned Woolworths is returning to the excessive avenue with three trial shops as a consequence of open in late 2021, nevertheless it did not affirm the place these will probably be positioned.
It added: “Very owns the net Woolsworths, so we will probably be retail solely.
“Earlier than we launch now we have a number of authorized contracts to signal, however we’re tremendous excited!”
A spokesperson for Store Direct, which rebranded to The Very Group final yr, advised The Solar: “We personal the Woolworths trademark within the UK.
“The Twitter account UKWoolworths shouldn’t be related to The Very Group.”