A new survey has revealed that the vast majority of former Woolworths shops have been taken over by new tenants since the retailer’s high-profile collapse in 2009.
Research published this week by the Local Data Company (LDC) found just 13 per cent of ex-Woolworths outlets remained empty, down from 30 per cent in January 2011. Budget retailer Poundland is the biggest single occupier, having acquired seven per cent of Woolworths’ former stores.
“It is encouraging to see 87 per cent of the old Woolworths shops now occupied,” said LDC director Mathew Hopkinson. “It reflects the fact that Woolworths was once the anchor store in many centres and that the current market has enabled greater opportunity for retailers to relocate to more prime locations.”
Other retailers which have moved into at least 20 ex-Woolworths stores include Iceland, Tesco Express, B&M Bargains, Poundstretcher and 99p Stores. Supermarket expansion has accounted for 17 per cent of the total Woolworths portfolio.
The findings came after Peacock Group, which owns the Peacocks and Bonmarche brands, formally went into administration following the collapse of a proposed last-minute rescue package.
