EMCC European Monitoring Centre on Change

Poundworld

Company/Organisation:
Poundworld

Geographic Location

Country: United Kingdom

Company

Sector: Retail
Wholesale and retail trade; repair of motor vehicles and motorcycles
47.1 - Retail sale in non-specialised stores
Number Employed: 5000

Employment Effects

Announcement Date: 08-07-2014
Type of Restructuring: Business expansion
Employment Effect Start: 08-07-2014
Foreseen End Date: 08-07-2015
Planned Job Creation: 1300

Additional Information

Discount store Poundworld has unveiled major new expansion plans.  The company is financing the expansion with £26 million investment from Santander Corporate and Commercial. Presently Poundworld operates 240 stores across the UK with around 5,000 employees and is the UK's third largest single price point retailer. The new plans are for another 40-50 stores to open per year for the next three years. In total it is planned that this will result in 150 stores and the creation of 4,000 new jobs. On a pro rata basis it is therefore expected that around 1,300 jobs will be created in the coming year.

This latest announcement continues the trend of expansion of the so-called discounters and single price point retailers.