Liverpool is the hometown not only of the legendary band The Beatles but also of a great number of brands and companies. Today, we’re going to talk about the history of the British company Woolworths. And the very first stores were established in our city. The company was sold in 1982, but by then, Woolworths had over 800 stores in the UK. Many goods were sold here, including its own range of Ladybird children’s clothing. Read all about it at liverpool1.one.
The Founding Story: How It All Began
The Woolworths company in Great Britain was founded in 1909 by Frank Woolworth in Liverpool. Frank Woolworth, an American whose ancestors came from Woolley in Cambridgeshire, was the creator of a large chain of department stores in the United States. He had the idea of creating British stores and met a clerk named William Lawrence Stephenson. He offered Stephenson a management job, and this is how the story of Woolworths in Great Britain began.
A location in the centre of Liverpool was chosen for the first store. It opened on 5 November 1909, and the grand opening featured a brass band, circus performers, and fireworks. It’s worth noting that on the first day, customers were only allowed to browse the goods. The store received rave reviews in the local press, and on the first day of trading, there were huge queues. By the end of the day, there was no stock left, as shoppers had bought everything.
Rapid Growth of the Company
By the start of the First World War, F. W. Woolworth & Co. had 40 stores in Great Britain and Ireland. The stores were mostly opened in the country’s major towns and cities. During the war, there was a staff shortage, but over time this problem was resolved.
After the First World War, Woolworths continued to expand, and new branches were opened: there were 130 branches by 1923. The 400th branch was opened seven years later in Southport, Lancashire. And in 1934, the 600th store opened in Wallington, Surrey.
Then came another war, and the company’s progress stalled for almost ten years.
In 1953, the company’s 800th store was opened in London.
In 1958, the 1,000th branch was opened, and a few years later, there were 1,141 stores. When ownership was transferred to the UK in 1982, the company had around 1,000 branches.
The Decline of a Legendary Company
In 1982, the British Woolworths company and its subsidiary chain, B&Q, were sold. It was acquired by Paternoster Stores Ltd. Two years later, the stores in Ireland were closed.
In 2008, trading in Woolworths Group shares was suspended. Between 27 December 2008 and 6 January 2009, all 807 Woolworths stores were closed. As a result, 27,000 jobs were lost. It was a major shock for the country, and the Woolworths company became a symbol of the financial crisis in Britain.
In 2009, the Shop Direct Group bought the ‘Woolworths’ brand name. A website was launched selling various goods. However, the site ceased trading in June 2015.
Woolworths was a company with a rich history that survived two world wars, financial difficulties, and staff shortages, yet it could not survive the crisis of 2008. It is a shame that such a legendary company ceased to exist in the 21st century. However, everything has its beginning and its end. This serves as another reminder that in the modern world, a business must be ready for anything. If a company or a store cannot adapt quickly to the times and to the demands of society, then it is destined for decline.
This is the story of the Woolworths company in Great Britain, which began in the city of Liverpool. We hope you found this article informative and have drawn your own conclusions.