Retailers/Poundworld/News

Poundworld news

20 September 2018
Poundland is the latest retailer to acquire former Poundworld sites. Poundland to acquire 20 former Poundworld stores Variety discounter Poundland has announced plans to open stores in 20 sites formerly operated by Poundworld. These include eight larger sites, which will allow space for Pep&Co clothing alongside Poundland's core grocery and general merchandise range. Stores are expecte...
20 July 2018
Poundworld will close all remaining stores by 10th August, following waves of store closure announcements since the retailer entered administration in June.  Timeline: store numbers dwindled as administrator continued to explore potential to sell parts of the business Poundworld entered administration in June First 25 store closures were announced in early July and stopped trad...
11 June 2018
UK variety discounter Poundworld has entered administration following the failure of rescue talks between its owner TPG and potential buyer R Capital. Failure follows flagging trading The discounter, which serves two million customers a week from its 355 stores, also trades under the Bargain Buys name. Poundworld has been in decline for the past two years, experiencing a loss of £17.1m f...
13 December 2017
Gerry Gray has resigned from his position as CEO of Poundworld, with immediate effect, reports Retail Week. Gray cited personal reasons for leaving the role after less than two years. He joined Poundworld from Tesco's leadership team. This follows reports in the Sunday Times that founder of Poundworld, Chris Edwards, plans to join rival discounter Poundstretcher. Edwards built up the Poundworl...
28 July 2016
We visited the UK's latest discount concept at its first store in Hinckley, Leicestershire, to see what they new retail is doing differently to attract shoppers in such a competitive retailer environment. GHM! (Guess How Much!) and sister clothing company PEP&CO are new retail brands by  Pepkor UK , established by ex-Asda CEO Andy Bond, and backed by South African retail group, Pepkor. ...
07 June 2016
In an interview with The Times, Lennart Lajboschitz, founder of international discount chain Flying Tiger (recently rebranded from Tiger), talks about the retailer's proposition and plans to grow. Creating an emotional connection Lajboschitz talks about making products emotional, therefore creating an experience between the consumer and product, which is where the magic of this successf...
23 March 2016
The UK discount channel has had some exciting and interesting developments in the first quarter of this year. Here we explore a new entrant in the variety discount channel and Lidl's new online community hub. GHM!: new discounter set up by ex-Asda CEO GMH! (Guess How Much!) aims to be a 'one-stop shop for mums', selling general merchandise, ambient grocery, and clothing from Pep & Co: Bond'...
10 March 2016
Retail Week magazine has reported that major UK fixed-price variety discount retailer, Poundworld is to acquire 20 stores of the Brantano footwear chain, which was recently bought out of administration by the investment company Alteri. Pushes Poundworld store numbers to 335 Poundworld has been growing rapidly in recent years with its last reported turnover up 22% on the previous year to re...
03 March 2016
The founders of 99p Stores are partnering with the owner of Poundstretcher to bring UK shoppers more variety to the discount channel with a new single-price point chain. Meetings underway with suppliers Just six months after the Lalani family sold  99p Stores chain to Poundland , they have set up an office in Leicester at the head office of Crown Crest: Poundstretcher's owner. Accor...
02 March 2016
Poundworld's Chris Edwards is retiring from the business he created from a market stall over 40 years ago. 'Time for a rest' Chris Edwards started the value retailer in 1974 from a market stall in Wakefield, West Yorkshire. Along with his son, Edwards opened the first high street Poundworld store in 2004. Since then, the discounter has grown in the UK to over 310 stores, with sales in ...