Littlewoods sets May target for Index demerger

Littlewoods aims to complete the demerger of its eponymous chain and Index stores by May.

The move is part of the massive restructuring plan instituted by the Barclay brothers since they acquired the business in November 2002.

Initially, the home shopping and store divisions were split, but the process is to progress a stage further with the creation of independent companies for the high street chains.

The Littlewoods fascias share retail space - 97 of Littlewoods' 120 stores contain Index shops. There are also 69 Index standalones.

Littlewoods will meet with Usdaw next month to discuss the split, which will generate 30 extra jobs.