In 1880, Liverpool gained its first bishop, Rt Rev Ryle, and St Peter’s was made the Pro-Cathedral as an interim measure while decisions about a purpose-built cathedral could be made. The cross marks the spot on which St Peter's church stood and it can be seen in the pavement in Church Street opposite Marks and Spencer.
Once the decision to build the Cathedral on St James’s Mount had been made, the diocese realised it could only fund the ambitious project by selling off its very valuable real estate in the city’s main retail street. St Peter’s had to go and there was no shortage of takers, including Harrods, who planned to build their only store outside of London on the site. In the end, it was the ambitious American chain, Woolworths who won through (it was the first Woolworths opened in this country) and they maintained a high street presence for over half a century before Burtons/Topshop moved in.