The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale In Non-Specialised Stores 47.1 - Retail sale in non-specialised stores
1,300 jobs Number of planned job creations
Announcement Date
8 July 2014
Employment effect (start)
8 July 2014
Foreseen end date
8 July 2015
Description
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.
Sources
8 July 2014: The Scotsman
8 July 2014: Daily Express
Citation
Eurofound (2014), Poundworld, Business expansion in United Kingdom, factsheet number 77324, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77324.
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