Background
With a backdrop of declining sales and rising property costs, Littlewoods’ owners took the strategic decision to reposition the brand as a purely online retailer with the formation of Littlewoods Shop Direct Group in 2005. The company’s 120 bricks and mortar stores were sold to Associated British Foods plc (‘ABF’), owner of Primark and Selfridges, for a total consideration of £409 million.
ABF’s main aim in acquiring the Littlewoods stores was to convert many of them to its Primark fascia and to lease the balance to New Look. ABF approached Hilco to develop a robust plan to deliver this operationally demanding transition.