Former MD Tony Page hopes to finance the opening of 200 stores in next five years
Defunct UK retailer Woolworths could yet rise from the dead with the news that former MD Tony Page is negotiating with investors with a view to securing a £10m deal to buy up 200 of the chain’s former outlets.
The Times reports that Woolies’ former boss was last year involved in a failed attempt to buy the Woolworths name following the retailer’s collapse. As a result, if Page secures the necessary funding he will also have to find a new brand name for the once cherished chain.
Page claims that he will make changes to the doomed Woolworths model in an effort to make a success of the business, with coasts being kept to a minimum and head office staff numbers to be kept below 30.
Were a new retailer to emerge from Woolworths’ ashes it would hope to mirror the success of ‘Wellworths’, the Dorchester based former Woolies’ store set up by ex-employee Claire Robertson, which is reportedly proving to be a success.
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Comments
re: Woolworths resurrection on the cards
RISE FWOM YO GWAVE!!
Hmmm
Don't get me wrong, I like big Ideas and grand schemes, and I miss the pick n mix and boxes of toffifee but it sees that however you look at it the Woolies model has been adapted and bettered by other retailers anyway. I wonder what Tony Page can bring to the saturated high street.
Yawwwwwn...
The reason why Woolworths went under was because it was too pricey (way too pricey infact), more so for its games and DVDs. Unless online stores are phased out, high street stores will always be going under week in, week out. I can see HMV and WH Smith going under in the future as they've been ripping people off for years. Makes no difference to me as I only buy online now.
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