Woolies boss will try again

WOOLWORTHS&rsquo; former boss Sir Geoff Mulcahy is working to raise the collapsed retailer from the ashes with a bid to open 200 similar stores.<br /><br />Mulcahy is part of group, headed by former managing director Tony Page, hoping to make another &ldquo;Woolworths type&rdquo; high street brand.<br /><br />The group aims to buy the majority of the stores from the old Woolworths estate.<br /><br />Mulcahy was the chief executive of the Kingfisher group, which owned Woolworths from 1982 to 2001.<br /><br />In December he tried to take over about 500 Woolworths stores after the chain went into administration. However, the bid failed and the last Woolies stores closed in January.<br /><br />Page said Mulcahy was likely to become a non-executive chairman of the new business, which is inviting suggestions for names on Twitter.<br /><br />Former UBS banker Gareth Thomas, set to be finance director in the new business, said it wanted to raise between &pound;5m and &pound;10m from private investors and already had access to about two-thirds of that.<br /><br />Thomas said the group looked to the success of Claire Robertson, the manager of a Woolworths store in Dorset. She reopened the shop under the name &ldquo;Wellworths&rdquo; and has seen strong trading.