A discount high street chain could soon open up a £500,000 outlet in a Shrewsbury town centre store under plans which would see it sharing the site and creating up to 30 new jobs.

It is understood that TJ Morris, which owns Home Bargains, is looking at the possibility of sharing part of the former Woolworths store in Castle Street.

Fashion retailer H&M has already confirmed it is opening a store at the Woolworths site. It is set to occupy space over two floors of the store which has been closed since late December of last year when the high street name went into liquidation.

TJ Morris was established over 30 years ago by Tom Morris. Since opening his first store in Liverpool, the business has grown to become one of the biggest privately owned companies in the UK.

The company now boasts over 170 stores and employs more than 4,000 people.

Joe Morris, from the company, said the store had taken over a number of former Woolworths sites.

He said: “We are hoping to open a store in Shrewsbury and we are actively looking for a premises. When we open a new store we typically create about 30 jobs and we spend quite a lot on shop fitting, normally £500,000.

“This has especially been the case in a number of the former Woolworths stores that were in a bad state.”

Home Bargains carries a wide range of top quality, high street brands from health and beauty products to household goods, food and toys at discount prices.