Fashion chain Next to move into Woolworths
Fashion retailer Next is to take over Preston's former Woolworths store.
The initial terms of a deal to move the chain into the landmark shop in Fishergate have been agreed and officials are now thrashing out legal agreements before the deal is finalised.
A source told the Lancashire Evening Post: "The deal is done to move Next into Woolworths, they are just talking over the legals now but a price has been fixed.
"The news about Tithebarn has got a lot of people who were interested before moving and I think in the next three months you will see Fishergate's empty stores fill up."
The flagship Woolworths store shut in December last year and has stood empty since.
Cheryl Gordon, a lecturer in retail management at Preston's University of Central Lancashire, said: "To have a strong retailer like Next in such a prominent location would be absolutely fantastic news for the high street.
"If more stores follow suit that would be the best opportunity for Preston's high street to rehabilitate itself."
It is the latest boost for Preston's shopping streets as doubts continue over the 700m Tithebarn redevelopment.
The Evening Post reported yesterday how discount chain B&M Bargains will take over the former Tradex site, on Carlisle Street, at the end of October, creating 30 jobs.
Fat Face opened in Fishergate in the former Barratt's store earlier this month while pawnbroker Cash Generator has opened a store in The Mall.
And property experts in the city are predicting more empty stores in the city centre will begin to fill as the economy recovers.
A spokesman for Next said she was unable to confirm or deny whether the chain was looking at opening in the former Woolworths store.
She said that the company would not comment until contracts had been exchanged on the premises with owners Bretton Ltd, a company registered in the British Virgin Islands but believed to be backed by Preston businessmen.
Companies House still has the leaseholder registered as Woolworths plc and shows that Bretton Ltd bought the store for 7.4m in January, just weeks after the high street favourite shut.
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Wednesday 23 May 2012
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