Site of former Debenhams store in Barrow-in-Furness bought by defence giant BAE Systems
New lease of life: The old Debenhams in Barrow-in-Furness
For decades, shoppers flocked to Debenhams in Barrow-in- Furness for their fashion fixes and bra fittings.
Now the site of the former department store is set to become home to a different sort of precision engineering after being bought by defence giant BAE Systems.
Demand for the manufacturer's military kit, from fighter jets to frigates, has surged amid the heightened global tensions following Russia's invasion of Ukraine.
The shipyard town in Cumbria is already home to BAE's submarine business, which is adding to its training and development facilities as its 11,000-strong workforce expands.
Now BAE is buying four former retail properties in the town centre, including former WH Smith and Body Shop sites as well as Debenhams and a rooftop car park.
BAE has given few details of its plans for the old shops, although it has said it will renovate them rather than knock them down.
It raises the prospect of make-up counters being replaced by submarine simulators and bargain bins making way for missile tube blueprints.
With Debenhams having gone bust two years ago – and now existing only as an online brand after being bought by Boohoo – some of its former stores have been snapped up by rivals including Marks & Spencer, Dunelm and The Range.
Others have found more colourful occupants. The one in Wandsworth, South West London, is now a Gravity Active, housing a host of leisure pursuits from climbing walls to an indoor go-kart track.
The Gloucester premises is being converted into a university lecture hall. Others will be turned into flats, a boutique hotel and even a gallery. Many are still empty. BAE said that in Barrow it will build upon the extensive investment it has already made in the town. Its submarines division, which is based there, is looking to hire more than 2,500 people this year.
Steve Timms, managing director of BAE's submarines business, said: 'For more than 150 years our shipyard and the local community have worked side by side to support each other and this investment is a demonstration of our ongoing commitment to develop and champion the town.'
Most watched Money videos
- The new Volkswagen Passat - a long range PHEV that's only available as an estate
- Paul McCartney's psychedelic Wings 1972 double-decker tour bus
- Mini unveil an electrified version of their popular Countryman
- Iconic Dodge Charger goes electric as company unveils its Daytona
- BMW's Vision Neue Klasse X unveils its sports activity vehicle future
- How to invest for income and growth: SAINTS' James Dow
- Steve McQueen featured driving famous stunt car in 'The Hunter'
- German car giant BMW has released the X2 and it has gone electric!
- MG unveils new MG3 - Britain's cheapest full-hybrid car
- How to invest to beat tax raids and make more of your money
- BMW meets Swarovski and releases BMW i7 Crystal Headlights Iconic Glow
- Skoda reveals Skoda Epiq as part of an all-electric car portfolio
- BHP swoops on rival Anglo American in £31bn mining megadeal
- MARKET REPORT: Reckitt cleans up but Footsie gives up gains
- Tory windfall tax war 'is killing off North Sea oil'......
- Investors to vote on plans to double London Stock...
- Mini's electric ace up its sleeve: New Aceman EV has a...
- 'It's unprecedented': Amazon hits back at CMA focus on...
- Is there a risk that inflation falls below 2% and then...
- Meta announces it is to plough billions into artificial...
- Car insurers to make pay monthly cheaper and fairer after...
- Barclays profits hit by subdued mortgage lending and...
- Unilever sales jump as consumer giant eases price hikes
- BUSINESS LIVE: Barclays profits slip; Sainsbury's ups...
- Schroders boss Peter Harrison to retire in 2025 after...
- Windfall tax is driving UK oil and gas producers to...
- Lloyds cheers green shoots in housing market - but takes...
- Warpaint London shares continue meteoric rise as profits...
- Ten stocks to invest in NOW to profit from Rishi's...
- Sainsbury's enjoys food sales boost months after...