EMPTY shops on Guernsey’s High Street could be a golden opportunity for larger companies.

Chamber of Commerce director Barry Cash (pictured) said a number of companies have been looking at the vacant premises, which include Poundworld and Woolworth.

‘It’s a tragic shame that Woolworth closed. However, it could be an opportunity for another retailer who is looking for premises here,’ he said.

Mr Cash said there was an interest in the larger shops available.

‘One of the problems in Guernsey has been the size of retail space. It hasn’t been big enough to encourage the larger companies to come over and, previously, it wasn’t economically viable,’ he said.

Marks & Spencer this morning announced the closure of 27 shops, all but two of them small Simply Food stores. The closures mean that 780 staff will lose their jobs and a further 450 office staff will also be made redundant.

Peter Creasey, director of Creasey’s Franchise Limited, which owns the local M&S franchise, said he was aware of speculation but said that staff in the island had nothing to worry about.