It was a hoax shut down quickly by Very, the company that owns the local rights to the Woolworths brand.

This disappointed a legion of Woolworths fans who were excited by the nostalgic prospect of the store coming back to British high streets, remembering its range of toys, music and pic 'n' mix.

But the retailer is not the only cherished store to have closed in the past couple of decades with a number of big name brands going bust.

From Virgin Megastore to Toys R Us, C&A to Past Times, tens of popular shops have shuttered for good.

This is Money takes a look down memory lane to revisit the famous stores that have fallen into administration over the years.

Woolworths: Woolworths was a staple of the British high street for over 100 years with more than 800 stores.

It sold a variety of items from toys to stationery and was famed for its pick 'n' mix stand.

Unfortunately, it fell foul of the 2008 financial crash and changing shopping patterns and by early 2009, all stores had closed.

Shoppers were left excited for a brief while recently when a Twitter account announced it was due to be reopen before it was revealed to be a hoax.

JJB Sports: The original sports retailer store was founded in the early 1900s before expanding to multiple shops in the 1970s.

It had 180 stores around the country but went into administration in 2012 after undergoing a restructuring.

Sports Direct purchased part of the business, including 20 stores, the brand, and its website for £28.3million later that year.

Past Times: Past Times specialised in retro goods and gifts with the first branch opening in Oxford in 1987.

It is another retailer that unfortunately collapsed in 2012, closing its 97 stores, blaming consumer confidence for the failure.

MK One: The female fashion retailer had 125 stores around the UK before it was sold to several different buyers.

In 2008, Deloitte & Touche was appointed to find a buyer only three weeks after Baugur, the Icelandic investor, sold the chain to Hilco, the retail recovery specialist.

It was then bought by Internacionale Retail after going into administration with the remaining 80 stores rebranded under the firms name.

The founder, Mark Brafman, was subsequently jailed for eight months in 2014 for acting as a director while disqualified.

BHS: The department store was a stalwart of the high street for 92 years before it folded in 2016.

It had a total of 163 stores at the time of its collapse with experts claiming the shop hadn't been able to keep up with modern tastes.

Etam was also sold in the stores after Sir Philip Green bought the stores. However, it too disappeared in the UK after BHS closed.

Blockbuster: The US-founded home video rental store was a popular hit in the UK for many years.

However, with the rise of digital media, it held no place in the market anymore.

By January 2013, the 91 stores that were left had gone into administration.

Dolcis: Dolcis Shoes were a shoewear retailer that owned over 65 stand alone shops and over 150 concessions.

It fell into administration in 2008 after the credit crunch, as did so many other chains.

However, the company reformed and relaunched its new online collection in 2012 after being acquired by the Jacobson Group, meaning whilst you won't see it on the high street, you can still buy the products.

Freeman, Hardy and Willis: Freeman, Hardy and Willis was a major chain of footwear retailers in the UK.

Initially established in 1875, for many years, there was a branch in nearly every town.

In the early 1990s, approximately half of the 540 Freeman Hardy Willis branches into Hush Puppies shops and sold the remainder to Stephen Hinchcliffe.

However, after only a year, Hinchliffe's business empire collapsed and the shops were closed.

C&A: C&A was a popular clothing store in the UK, operating for nearly 80 years. It withdrew from the market in 2000 with the last store closing the next year.

However, it is still a large brand in other European countries including Germany and Switzerland.

Virgin Megastore: The retail chain operated in the UK from 1971 to 2007.

The stores were known mostly for selling CDs and DVDs - a market that suffered in the digital age.

Richard Branson sold the Megastores to new retailer Zavvi but that went into administration at the end of 2008.

Our Price: Our Price was also a chain of record stores in the UK and Ireland from 1971 until 2004.

It was sold on multiple times, initially to WH Smith in 1986 then Virgin Megastores in 1998 before being sold to Brazin in 2001.

In 2003, it was sold on yet again to Primemist before entering administration in December that year.

Rumbelows: Rumbelows was an electrical, electronics and records retailer that was once a rival to Currys, Dixons and Comet.

There were hundreds of branches around the UK before it was sold to Radio Rentals in 1989, transferring many Rumbelows into Radio Rentals.

However, profits were down and all remaining stores shut down in 1995.

Toys R Us: One of the most popular stores for children, the UK arm of Toys R Us fell into administration in 2018 with all 100 stores closing.

It had failed to find a buyer after profits fell, with experts blaming falling consumer spending and competition from online rivals.

One of the most popular stores for children, Toys R Us fell into administration in the UK in 2018