Iceland buys Morpeth's former Woolworths store
FROZEN food giant Iceland has bought the former Woolworths store in Morpeth's Bridge Street.
The deal is part of one which has seen the retailer purchase 51 of the Woolworths sites throughout the country.
The company also said it plans to create 2,500 new jobs.
The purchase has been made just three days after the last of the Woolworths outlets closed for the final time.
"We are confident we can help to support the local community in these towns who have lost a major high street retailer in Woolworths," a statement from Iceland said.
Iceland had tried to buy all of Woolworths' 815 stores last August, but the bid was rejected as "unacceptable".
Founded in 1970, the firm was bought in 2005 by a consortium led by Icelandic investment group Baugur.
Woolworths went into administration in November, but was unable to find a buyer to take on the company.
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Thursday 17 May 2012
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