BusinessBusiness RecoveryWoolworths bosses battle to reopen stores

Woolworths bosses battle to reopen stores

Sir Geoff Mulcahy aims to raise fallen chain from the ashes with a new name by buying up old store sites

The former bosses of Woolworths is working on plans to open 200 similar
stores at old sites of the collapsed high street retailer.

Sir Geoff Mulcahy, who was chief executive of former parent company
Kingfisher, and former managing director Tony Page are spearheading a group
aimed at raising the company from the ashes in the form of another ‘Woolworths
type’ brand, reports City
A.M.

The group’s strategy is to buy the majority of the old Woolworth’s estate
with a new name, suggestions for which are being asked for on the groups Twitter
page.

Late last year, Sir Geoff attempted to purchase 500 Woolworths stores after
the company fell into administration. However the bid failed and the stores
closed in January.

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