Ex-Woolies boss joins store talks!

The group said the majority of its planned stores would be former Woolies sites

Former Woolworths boss Sir Geoff Mulcahy is working with a group planning to create a 200-strong chain of "Woolworths-style" stores.

The group, which currently has no name, is headed by former Woolworths managing director Tony Page. He said he had been working with Sir Geoff for a month.

The group is hoping to buy some of the collapsed retailer's vacant stores.

Sir Geoff was the chief executive of the Kingfisher group when it owned Woolworths from 1982 to 2001.

Last year he failed in a bid to take over about 500 Woolworths stores after the chain went into administration in November.

The last Woolworths stores closed on 6 January.

The group has yet to come up with a name for the chain but is inviting suggestions from the public via Twitter.

Mr Page said that Sir Geoff would "probably be a non-executive chairman.

"Sir Geoff can see the same great opportunities in this as myself and my colleagues do," he said.

Former UBS banker Gareth Thomas, who will be finance director in the new business, said that it was looking to raise between £5m and £10m from private investors and already had about two-thirds of the money available.

The majority of the 200 stores would come from the old Woolworths estate, he added.

In March, Claire Robertson, the manager of a Woolworths store in Dorset, reopened the shop under the name "Wellworths".

Mr Thomas said that he had been buoyed by Miss Robertson's experience - Wellworths he said had seen strong sales - and was confident the new brand would be profitable.

BBC NEWS REPORT.