The Woolworths brand name and the Ladybird childrenswear brand has been bought by Shop Direct Group, the online and home shopping retailer.

The Shop Direct Group plans to re-launch Woolworths as an online store selling a range of products including the Ladybird children’s label.

Neville Kahn, Deloitte partner and joint administrator, said: ‘We are pleased to have achieved a deal which will enable the Woolworths and Ladybird childrenswear brand names to continue.

It is clear that the British public has a great affection for Woolworths and we are delighted that the Shop Direct Group will be keeping the name alive.’

Kahn added: ‘The process of selling the Woolworths property portfolio continues with former stores under offer from prospective purchasers.

'We are currently bound by confidentiality agreements regarding the numbers and locations of stores under offer while negotiations continue.’