• The BBC reports that Woolworths, which went out of business and closed all its stores late last year after being crushed by its debt load, is being reborn as an e-commerce site. The brand has been acquired by a company called Shop Direct Group, which hopes to have the new venture up and running by next summer.
- KC's View:
- With so many retailers facing extinction during this time of economic challenges, maybe this is a move that more of them ought to be considering – completely changing the paradigm in a way that alters their cost and marketing structures. Will it involve pain and suffering? Sure, probably. But in the long term, maybe the only way to survive.
