Woolworths is not disappearing from the high street after all – the old format is poised to make a comeback but under a new name.
Three members of Woolworths’ former management plan to open a new chain of, initially, 50 stores that will recreate the old Woolies style but with added consumer appeal.
Tony Page, Andy Latham and Steve Jebson are putting £10m into the project after failing to acquire the Woolworths name, which was bought by the Shop Direct Group for relaunch exclusively as an e-tail brand.
The trio will now have to come up with a name as near to Woolworths as possible for the stores, for which they believe there is a big gap in the market.
The first of the new outlets is scheduled for a May opening in London. If successful, the chain could grow to 300 within three years.