Littlewoods to be sold to Barclay brothers
UK Retail group Littlewoods is to be bought by reclusive media entrepreneurs the Barclay brothers in a £750m deal, it was announced today.
The Liverpool-based group, founded as a football pools business in 1923 by the late John Moores, is being bought by David Barclay and Frederick Barclay.
In a statement the Moores family, which own the group, said: “It is a wrench for us to part from the company founded by Sir John Moores almost 80 years ago. However the family is united in its belief that it is in the best interests of the business to develop and grow with the Barclay brothers.
“It is fundamental for us that today’s agreement secures full employment rights, continued location of the business in Liverpool and ongoing use of the Littlewoods name.”
