Former Woolworths director Tony Page is in fresh talks with potential investors as he seeks to raise cash to start up a new retail chain in the wake of Woolworths’ collapse.
Page is targeting landlords for investment, as well as asking for favourable rates on stores.
He said: “There are landlords that want to support us and are keen for us to get off the ground. If landlords want to put money in I’m keen to talk to them. This is the big one for me.”
Landlord Land Securities said earlier this month that it wanted to set up a venture capital arm to co-invest in new retail chains, including fledgling and internet brands wanting to move into bricks and mortar.
Page, along with former Woolworths senior executives Steve Jebson and Andy Latham, said a three-month exclusivity agreement with one backer ran out last week, meaning they can enter investment discussions with other parties.
Page wants to open 200 former Woolworths shops within five years, offering a Woolworths-style store, selling toys, pick ’n’ mix sweets and homewares.
The trio have opened an office in Heathrow and have enlisted the help of Gareth Thomas, a former UBS banker, to raise between £5m and £10m.
Page is using Twitter for suggestions to decide a name for the chain.