Since Sir David and Sir Frederick Barclay bought this home-shopping and high-street retailer for £750m in 2002, it has undergone extensive restructuring. In 2005, the brothers merged Littlewoods with the home-shopping business they had bought from GUS two years earlier. Renamed Littlewoods Shop Direct Group, it is now focused on home shopping – through catalogues and a growing online presence – and posted sales of £2,754m in 2005. The year also marked the group’s withdrawal from the high street, as it sold 33 Index stores to Argos for £44m and the 120-strong Littlewoods chain to Associated British Foods, owner of Primark, for £409m.
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