The position of this old advertisement is initially confusing as it’s down a back alley and not easily visible from the road.
It makes much more sense if you think of it as being visible from the railway rather than from the road or footpath.
The first letters appear to be CLA on a red band, sadly I cannot figure out what it’s an advert for.
Redcar Ghostsigns, Rear of West Dyke Road
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Port Clarence
I see what you’re saying, but this photo by someone else shows “ES” at the end, so perhaps “Classes” ?
http://www.flickr.com/photos/nekoglyph/4138464185/
There are 3 Ghost Signs on that alley. One next door (very faint) to the one you’ve posted and one opposite. See here: http://www.facebook.com/media/set/?set=a.271900412909699.45268.271888912910849&type=3
How about Por…… Glasses