Oswaldtwistle Mills is quitting Accrington’s former Woolworths building - with fashion retailer Store Twenty One set to move in.
The Best of Oswaldtwistle Mills has occupied the Broadway site for 18 months, and helped maintain the vibrancy of the town centre economy when it was being buffeted by the recession.
Property management company Protego has managed to secure a long term deal for the shop, with a variety of options said to be available for the 15 staff employed there.
No firm date has yet been set for the move, but a quick transfer could be achieved as capital expenditure can be used at the main Oswaldtwistle site.
Boyd Hargreaves, Oswaldtwistle Mills managing director, said: "The Woolworths deal has worked really well for both parties. We were given a fantastic deal and our occupancy over the last 18 months has been commercially profitable for us. It has enabled us to raise our profile locally and create employment."
He added: "There are a number of developments ongoing at the main site which will create employment and we are just reviewing available positions. Interviews are also being arranged with the incoming retailer for the town centre staff."
Oswaldtwistle Mills moved into the store last February after previous tenant Woolworths entered administration.
Councillor Peter Britcliffe, leader of Hyndburn Council, said Oswaldtwistle Mills’ presence in the town centre had been vital during a difficult trading period.
He said: "By stepping in and taking the lease of the former Woolworths store, Oswaldtwistle Mills helped maintain the vibrancy of Accrington town centre’s shopping experience at a crucial time. With a new retailer coming into the town the future looks a lot brighter for Accrington’s retail economy and it will be a great asset for the town."
Protego bosses say they are also in advanced negotiations with tenants to secure new lettings and retailers for remaining vacant units on Broadway.