Linklaters and Weil Gotshal & Manges have taken the lead roles on a deal that will see the iconic brand of Woolworths relaunched online.

Sir David and Sir Freddie Barclay, the owners of The Daily Telegraph, have stepped in to save the Woolworths brand, along with its children’s clothing label Ladybird, with plans to relaunch them as an online business through Shop Direct (formerly Littlewoods Home Shopping) for an undisclosed sum.