The Week: People news - Page plans new retail chain

Tony Page, the former Woolworths executive director, is planning to launch a new chain of retail stores.

Page has teamed with the former UBS banker Gareth Thomas in a bid to raise between £5 million and £109 million to open up to 200 stores over the next five years in the same locations as former Woolworths stores. However, he will be unable to use the Woolworths name as it has been sold to Littlewoods' owner Shop Direct, which is relaunching the brand online.