Woolworths goes it alone with Corbett at the helm

ONE OF Britain's largest retail empires, including B&Q, Comet, Superdrug and Woolworths, is to be broken up under City plans announced today.

Woolworths is to be spun off as an independent company, chaired by controversial former Railtrack boss Gerald Corbett. Superdrug is to be sold to a Dutch store group and the rest of the business will carry on as before, under the existing Kingfisher name.

Mr Corbett's chairmanship follows a 10-day public battle with Kingfisher chief executive Sir Geoff Mulcahy, who was said to be reluctant to retain Mr Corbett at the Woolworths' helm after revelations of his 1.3 million Railtrack payoff.

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