Breathing new life into stores.TWO former Woolworths stores on Teesside are to get a fresh lease of life after securing new tenants. The collapse of Woolworths saw the loss of 27,000 jobs and the closure of 807 branches, including Billingham and Stockton. Retailer B&M has announced plans to create 40 job after taking over the branch at Stockton's Castlegate Shopping Centre. The 35,000 sq ft store adds to the company's chain of more than 100 branches across the UK. Meanwhile as part of its regeneration of Billingham town centre landlord Stockland (Billingham), represented by international real estate advisor Savills and Sanderson Wetherall, has let further units to Ethel Austin/Au Naturale, SemiChem and Grainger Games. Ethel Austin Ethel Austin is a large British clothing retailer with a UK-wide network of more than 300 stores extending from Scotland to South West England, and from Wales to the South East England. , trading as Ethel Austin and Au Naturale, has agreed a new 10-year lease on the former Woolworths store at 37 Queensway; at 47 Queensway, computer game retailer Grainger Games has agreed a new five-year lease; and discount health and beauty retailer Semi-Chem will trade from 53 Queensway having agreed a new 10-year lease. Mike Wimble at Stockland said: "These latest lettings are part of our strategy, which we have been implementing since taking ownership in 2007, to revitalise Verb 1. revitalise - give new life or vigor to revitalize regenerate, renew - reestablish on a new, usually improved, basis or make new or like new; "We renewed our friendship after a hiatus of twenty years"; "They renewed their membership" and regenerate re·gen·er·ate v. re·gen·er·at·ed, re·gen·er·at·ing, re·gen·er·ates v.tr. 1. To reform spiritually or morally. 2. To form, construct, or create anew, especially in an improved state. the retail offer in Billingham town centre. With nine new lettings and eight lease renewals already in 2009, there are currently just nine vacant stores remaining in the town centre, equating e·quate v. e·quat·ed, e·quat·ing, e·quates v.tr. 1. To make equal or equivalent. 2. To reduce to a standard or an average; equalize. 3. to less than 7% of the total retail units." |
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