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F. W. Woolworth & Co (Cyprus) Ltd




Industry: Consumer Goods and Services, Real Estate

Main business locations: Cyprus

About the Cyprus company:

F. W. Woolworth & Co (Cyprus) Ltd was until the end of 203 the leading chain of upmarket department stores in Cyprus, having branches in all main cities. Initially there was only one Woolworths in Cyprus, in the capital city Nicosia, but in 1985, after the local businessman Nicolas Shacolas purchased the company, new stores were opened in the island's other cities.

At the end of 2003, the Shacolas Group reorganised the Woolworths company, and the running of the department stores was given to Ermes Department Stores Public Limited. The ownership of the land and property and responsibility for developing new commercial sites, remained with F. W. Woolworth & Co (Cyprus) Ltd, which was renamed Woolworths (Cyprus) Properties Public Limited in 2005. At the moment, Woolworths (Cyprus) Properties Public Limited is one of the leading developers of commercial shopping centres in Cyprus, increasing its interests in other regions of southern Europe. This is the only part of the Shacolas Group holding Woolworths name.
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