14/07/2009 - Former Woolworths shops still empty
Despite closing more than six months ago, seven out of 10 former Woolworths stores are still empty, research has found.
According to the Local Data Company, 560 of the 807 ex-Woolworths stores are yet to be filled, equivalent to 69% of the retailer's portfolio.
The doors of Woolworths shut for the final time in January after going into administration in November with debts of around £385 million.
But only 31% of its stores are now occupied by other retailers, with Iceland being the biggest acquirer.
A bulk of the other store takeovers have been by discount stores, such as pound shops.
Around 180 leases have been sold or assigned, generating an estimated £50 million, while 240 leases have reverted back to the landlord, leaving administrators Deloitte with 387 still to shift.
The research found that former Woolies shops in Scotland and the North East are proving the toughest to get rid of, with more than 80% and 90% respectively still boarded up.
Copyright © Press Association 2009
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