Woolworths is coming back from the dead - at least on the internet.

The brand name behind the store that collapsed into administration late last year at a cost of 30,000 jobs has been bought by the reclusive Barclay brothers' Shop Direct group for an "undisclosed sum", unlikely to be more than £1.

Shop Direct says it will relaunch the brand online this summer, though the product range has yet to be unveiled.

The last of the 813 stores were finally shut earlier this month after several weeks of closing down sales.

Rescue efforts from various parties, including Dragons' Den entrepreneur Theo Paphitis, failed.

Shop Direct is run by Sir David and Sir Frederick Barclay who also own the Daily Telegraph and the Ritz.

The firm claims to be the biggest online and home shopping retailer in the UK with annual sales of £1.6 billion. Its brands include Littlewoods, Kays and Great Universal. It has also just snapped up Ladybird, the childrenswear brand.

Chief executive Mark Newton-Jones said: "Woolworths is a much-loved brand that engenders huge affection among British consumers and is an important part of the country's retail heritage.

"We are confident that Woolworths as an online brand, will once again prosper."