A MAJOR fashion retailer is being lined up to move in to Southampton city centre's Woolworth's store, the Daily Echo can reveal.

Woolworth's Above Bar store, which has been trading since 1923, is to close on September 1 with the loss of more than 50 jobs.

The retailer, which has a special place in the hearts of many residents, accepted an offer to sell its lease back ten years early and could quit the city centre for good.

A spokesman for the landlord, UBS Triton Property Fund, an arm of a Swiss bank, said: "The plan is to let it out to a major fashion multiple."

He refused to give further details but insiders have named TK Maxx as the store most likely to move in.

TK Maxx was also unable to confirm rumours it could be moving from its smallish High Street store to take advantage of the higher footfall that the larger 22,500 sq ft Woolworth building enjoys, opposite the entrance to the WestQuay shopping centre.

The Daily Echo website was flooded with comments from readers, many surprised that the historic store is to go.

City centre councillors also expressed their disappointment at the planned closure.

Bevois ward councillor Derek Burke said: "It's terrible. It will be a sad loss to the city.

"We need a rich range of shops in the city centre. It keeps it vibrant.

"I should imagine it's the longest serving shop left. I remember going there as kid with my mum."

Bargate ward councillor John Noon added: "It's extremely disappointing. It must be really difficult for the people facing redundancy.

"The retail economy is really strong in South-ampton so hopefully they will be able to find other jobs quickly."

He said he wanted to see the new occupant creating even more jobs.

Jimmy Chestnutt, director general of the Southampton and Fare-ham Chamber of Commerce and Industry added: "Woolworths is one of the city's most established retail outlets and it is sad that they are leaving their current site.

"We hope that they will find an alternative site to serve South-ampton as they are a much loved store and a household name."

"The loss of jobs will be a blow to many as redundancy, is almost always a personal tragedy for those individuals involved.

"However, Southampton is one of the UK's leading retail centres and Woolworth's well trained staff will hopefully find new opportunities in this expanding sector."

Clive Davies, of USDAW, the shop workers' union, said staff were still reeling from the shock of Tuesday's announcement.

Woolworth's will today begin interviews with staff over possible alternative positions at its other stores.

Mr Davies said he had contacted all the major retailers to try to find new jobs for staff as most are likely to face redundancy.

Tesco and the Co-op said they would pass on details of vacancies to Woolworth's.

n Daily Echo readers' comments - see page 13