SCHOOL children officially opened a 99p Store in Chingford, which used to be a Woolworths.

Joe White, Billy Prevost and Dylan Evans, all aged 11, from Handsworth Primary School cut the ribbon to mark the opening of the Old Church Road shop before bargain hunters scoured the store for good deals.

The first shopper through the door was Nazat Milik, 62, of Walthamstow, who said: “The store offers good quality at affordable prices. All I need is there.”

The new store has created 30 jobs after 99p Stores decided to move into the shop after Woolworths had to axe its Chingford branch.

The company say the success of its Walthamstow branch has led it to takeover the Chingford Woolworths.

The budget chain have 89 branches across London and Britain, about 15 of which are former branches of Woolworths.

Woolworths went into administration at the end of last year, closing all of its 800 UK stores and cutting tens of thoudsands of jobs.

The Chingford store officially stopped trading on January 2 this year amid swarms of bargain-hungry shoppers, keen to buy up the last of its cheap stock.

The former Woolworth shops have been officially targeted for takeover by 99p Stores, and there are plans for a further 40 to be reopened before the end of this year.