WOOLWORTH G.M.B.H.

The Woolworths Museum wishes the new brand-owners every success in beaming the brand back from the Internet to its rightful place at the heart of the High Street. We look forward to celebrating their success... Days later the other shoe dropped, shocking Analysts for a second time. The Board had agreed to sell its controlling 52% stake in British Woolworth to a local consortium for $500m. After 80 years of sending half of its profit to New York to repay the original £50,000 seed capital, the UK would be "set free". The Directors who brokered the deal, President Ed Gibbons and Overseas Director Richard L. Sullivan, shielded the Board from the fact that it was an aggressive 'management buy in' by private investors, leaving most believing it was a mutually agreed "MBO". Paternoster, (later renamed Kingfisher plc) pioneered the playbook that would later be adopted by venture capital turnarounds. At Woolworth they drove out costs, excess stock and bureaucracy and reshaped the asset..

Also known as: Woolworths Museum

Primary location: Pulborough United Kingdom