Following recent in-store slumps, it seems that Littlewoods is now to concentrate only on its more valuable catalogue and online businesses, which have annual sales that amount to about £2bn.

AB foods have bought all of its 119 stores which are scattered around the UK and its price? a mere £409m.  While AB Foods plan to keep at least 40 stores in order to expand "Primark" its number one fashion retail business, it will have to sell off the rest and keep only 2500 members of the Littlewoods staff. It is due to their Primark brand that many industry experts are believing it to be a huge gain in their prime High Street spots.

ABF also believes that the "bulk purchase" price that they pair will allow them to sell individual stores that they may not need at great prices.

Probables

With the market responding positively to the sale, it is believed that the Philip Green private retail, famous for bids such as Safeways and also the New Look chain may be interested in buying the individual stores from ABF.

It is expected that the deal may provide ABF with massive earning growth and even further lower the dependency it currently holds on its profits that are derived from reforming sugar activities.

Their shares dramaticall rose as soon as the news leaked of the acquisition, but then fell back to 0.59% lower at close of business.