Woolworths (Cyprus)

F. W. Woolworth & Co (Cyprus) Ltd was, until the end of 2003, the leading chain of upmarket department stores on the island of Cyprus with branches in all the major cities. The Cyprus company had its roots in the American parent F. W. Woolworth Company in the 1950s, which used its British arm to spread Woolworths stores throughout the British Empire.

Initially there was only one Woolworths in Cyprus, in the capital Nicosia, but in 1985 the company was sold to the local businessman Nicolas Shacolas (now OBE) who rapidly opened new stores in the island's other cities. These were far more upmarket than the original British Woolworths, and sold a range of designer adult clothing, perfumes and other luxury goods, as well as running food supermarkets in the stores.

At the end of 2003 the Shacolas Group reorganised the Woolworths company by splitting it in two, effectively severing the vestigial ties it had with the British company. The running of the department stores passed to a company called Ermes Department Stores Public Limited, and after an initial rebranding of the stores as Ermes, they were renamed a year later Debenhams. The ownership of the land and property, as well as responsibility for developing new commercial sites, remained with F. W. Woolworth & Co (Cyprus) Ltd, which was renamed Woolworths (Cyprus) Properties Public Limited in 2005. This is the only part of the Shacolas Group to retain the Woolworths name. Woolworths (Cyprus) Properties Public Limited is now one of the leading developers of commercial shopping centres in Cyprus, with increasing interests elsewhere in southern Europe and the Middle East.

External links

* [http://www.woolworthgroup.com.cy/index.html Woolworths Cyprus]


Wikimedia Foundation. 2010.

Look at other dictionaries:

  • Woolworth's — Woolworth s, Woolworths or Woolworth may refer to one of several companies:The original American F.W. Woolworth Company and related businesses: * F. W. Woolworth Company was the original USA based chain of five and dime stores. ** Foot Locker,… …   Wikipedia

  • Department store — A department store is a retail establishment which satisfies a wide range of the consumer s personal and residential durable goods product needs; and at the same time offering the consumer a choice of multiple merchandise lines, at variable price …   Wikipedia

  • Telstra — Corporation Limited Type Public company Traded as ASX: TLS NZX …   Wikipedia

  • National Australia Bank — Limited Type Public Traded as ASX:  …   Wikipedia

  • List of department stores by country — Contents 1 Africa 1.1  Ghana 1.2  Kenya 1.3   …   Wikipedia

  • Compact Disc single — A CD single (sometimes abbreviated to CDS) is a music single in the form of a standard size Compact Disc, not to be confused with the 3 inch CD single, which uses a smaller form factor. The format was introduced in the mid 1980s, but did not gain …   Wikipedia

  • Nortel — Networks Corporation Type Public OTC Markets Group: NRTLQ Industry Telecommunications …   Wikipedia

  • United Kingdom — a kingdom in NW Europe, consisting of Great Britain and Northern Ireland: formerly comprising Great Britain and Ireland 1801 1922. 58,610,182; 94,242 sq. mi. (244,100 sq. km). Cap.: London. Abbr.: U.K. Official name, United Kingdom of Great… …   Universalium

  • Commonwealth Bank — of Australia Type Public (ASX:[1]) Industry Banking Financial servi …   Wikipedia

  • Australia and New Zealand Banking Group — Limited Type Public (ASX: ANZ) Industry Banking …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”