Woolworths stores to be taken over by grocers, value retailers and fashion retailers
According to Retail Week, grocers, value retailers and fashion players are among those that have agreed deals to take on Woolworths stores. Of the 815 stores, 300 are understood to have been secured or are under negotiation. Discounter 99p Stores has taken 10 while B&M Bargains and Home Bargains have signed for 20 each. Rival grocers Iceland and Heron Frozen Foods have picked up 51 and between 15 and 20 respectively. Iceland is understood to be eyeing more sites. Sainsbury's, which wants to bolster its convenience store portfolio, will take five shops and Tesco 20. Other retailers to have agreed deals include New Look, H&M, Edinburgh Woollen Mill, Boots and Southern Co-operatives, all taking between three and 20 stores each. Many other retailers, including Wilkinson, Matalan, TK Maxx and Poundland, are understood to be waiting until the leases are returned to their respective landlords to negotiate a better deal, as those landlords are likely to struggle to fill the units.
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