Woolworths' rebirth

Woolworths was the largest retailer victim of the crisis in Great Britain, but now it will reborn as an online store. The company closed 807 retail stores in January and 27 thousand people lost their jobs.

The company was not able to pay the rent after its stores, due to its declining revenues. The new owner, the Shop Direct Group, dealing with the catalogs and Internet commercedecided to revive brand online. According to its plans the online store will be profitable this year – reports Világgazdaság Online.