How Woolworths UK became a DIY store

5 years agoOpen For Voting

The UK spin-off of Woolworths. Became a conglomerate (renamed Kingfisher plc) owning Woolworths (UK), drug stores, electrical retailers and a diy chain.
Attempted to buy Asda supermarket but got beaten by Walmart. Stock market pressure then forced the conglomerate to break up.
Woolworths stores themselves became the “bad business” saddled with debt that eventually died. They leased a lot of their property from the remnant of kingfisher which became a solely diy business.
Comet (electrical retailer that broke off) latter went bankrupt and the other businesses got bought out.

The surviving diy chain expanded into buying new businesses and european acquisitions and is the biggest of it’s kind in Europe but struggling in a lot of markets like France and spain.

Overall a very interesting history to it.