of 2006 the business launched an in-store collection service for items ordered on their website or in-store, to complement the already established in-store ordering system. In late September 2006, the Big Red Book was launched, to compete directly with the Argos catalogue. Woolworths launched the WorthIt! brand as a value range in 2007. The first advertising campaign for the brand aired on 15 June 2007 and introduced the characters of Wooly the sheep and Worth the sheepdog. Further advertising campaigns featured celebrities such as Rolf Harris, Jackie Chan and Kelly Osbourne. The brand covered a wide variety of products including confectionery, electricals, alcohol, jewellery, perfumes and clothing. Woolworths had a strongly unionised workforce, with shop stewards such as Paul Thompson of Unite (formerly the Transport and General Workers' Union) particularly active in the north of the UK. In July 2008, the board rejected a bid from Iceland founder Malcolm Walker to buy Woolworths' 819 stores for £50m. Walker's bid did not include Entertainment UK or the stake in 2 Entertain, and also avoided taking on Woolworths' debt and pension liabilities. On 12 August 2008, Woolworths Group announced the appointment of Steve Johnson, former chief executive officer of Focus DIY, to the post of chief executive. He replaced Trevor Bish-Jones, who had left in June. Woolworths scrapped its interim dividend in September 2008, after it announced a pre-tax loss of £99.7m for the six months to 2 August. At the same time, Johnson outlined a possible turnaround plan to sell 120 stores, axe a quarter of its products, reduce web operations and cut jobs. At that time, the retailer's largest shareholder was Iranian property developer Ardeshir Naghshineh, with a 10.2% stake. A consortium led by Icelandic investor Baugur, called Unity owned a 10% stake in Woolworths. In October 2008 Sir Alan Sugar, founder of electronics firm Amstrad, increased his stake in Woolworths to around 4%. Theo Paphitis, owner of stationery retailer Ryman, also stated his interest in the company. Administration and closure 2008–2011 From September 2008, the world entered into a severe financial crisis with reducing availability of credit and reduced consumer spending. On 19 November 2008, The Times reported that the Woolworths' retail business was a target for restructuring specialist Hilco UK, who would buy the retail arm for a nominal £1; this was confirmed the same day. The deal would have left Woolworths Group with its profitable distribution and