64 ex-Woolworths stores still empty
A TOTAL of 64 of the Woolworths shops in the South West which closed when the firm collapsed are empty more than six months later, new research has found.
A study by the Local Data Company found 64 of the 85 outlets which closed are still vacant.
-

Nationally, seven out of 10 former Woolworths stores are empty, with 560 of 807 not taken over by other retailers – 69 per cent of the portfolio. Some 80 per cent of the 82 stores closed in Scotland are boarded up but more than half the stores in Greater London are occupied.
The study shows that 28 of the 31 shops closed in the North East remain boarded up, amounting to 90 per cent. A total of 34 of the 46 in the East of England and 130 of the 170 stores in the South East also remain shut.
Of the 247 stores that have been taken on, the research shows many former Woolworths sites are now discount stores and pound shops. The retailer, which fell into administration late last year, is just one of a swathe that have gone bust and tough trading conditions are blighting efforts to find new occupiers.
Administrators Deloitte have struck a number of deals to sell on Woolworths stores, with the largest being the sale of around 50 stores to frozen food giant Iceland in January.
Around 180 store leases have been sold or assigned, generating an estimated £50 million, while 240 leases have reverted back to the landlord – leaving Deloitte with 387 still to shift.
The new research from the Local Data Company analysed every former Woolworths shop and showed that just 31 per cent are now occupied by other retailers.











Comments