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Business News Retail
Woolworths will return to the high street, albeit with a different name
By CMU Editorial | Published on Wednesday 18 February 2009
Woolworths could return to the high street, though under another name. The former Commercial Director of the now defunct retail chain has reportedly raised £10 million in funding to buy 50 of the old chain’s stores, and he and two former colleagues plan to launch a new retail company that carries on pretty much where the old Woolies left off.
The Sun quote Tony Page as saying “There’s a big gap in the market where Woolworths was. We could have 300 sites in three years’ time if things work out”. He plans to make the new shops “as close to the original as possible”, though it’s not clear exactly what that means for their CD and DVD departments. We should know in May when the first of Page’s new shops opens, probably in Camden or Notting Hill.
Page reportedly wanted to use the Woolworths name for his new stores, but was outbid for the rights to use the old brand by Shop Direct who, as previously reported, plan to launch a new etail operation using the Woolies name.
