Bargain chain Poundworld opens new store

Poundworld chief executive Chris Edwards with the company mascot

Poundworld chief executive Chris Edwards with the company mascot

First published in News Bradford Telegraph and Argus: Photograph of the Author by , Business Reporter

Bargain retailer Poundworld has created 30 jobs at its newest store which opens in Bradford tomorrow.

The new outlet at Woodhall Retail Park is the West Yorkshire-based company’s third in the Bradford area. The store opening is part of the 240-strong chain’s expansion plans to open another 50 stores this year, creating 1,500 new jobs by the end of 2014.

Family-run Poundworld, which recently featured on the BBC1 documentary Pound Shop Wars, promises to offering local shoppers a ‘value’ alternative to other high-street retailers, selling more than 5,000 products, including leading brands for £1.

Trading director Chris Edwards Junior said: “It’s great to be opening our third store in Bradford.

“Nowadays, it’s hard to keep up with the latest deals and offers so our proposition is simple and transparent – we offer customers fantastic savings every day on a huge range of items for the bargain price of £1.

“As a British family-run business, we have a loyal following of more than two million bargain-hunters who shop with us nationwide every week and we’re sure that our new store in Bradford will be a big hit with bargain shoppers in the city.”

Poundworld’s other local stores are on Kirkgate and Ivegate.

Fifteen jobs were created at Kirkgate, where Poundworld opened Britain’s first pound shop convenience store in 2011.

At the time of the launch, the company said the Poundworld Express store set a new trend for the Wakefield-based single-price retailer.

Poundworld has seen cash-strapped shoppers flock to its stores and is using the austerity climate to extend its operations into smaller ‘local’ outlets which will be rolled out across the country.

Poundworld followed the likes of supermarket giants Tesco, Sainsbury’s and Bradford-based Morrisons, which also opened its first M-Local store in Ilkley in 2011, and was the first single-price discount retailer to adopt the smaller trading model.

The Poundworld Express store in Ivegate sells more than 1,000 products for £1, ranging from cleaning products and toiletries to milk and sandwiches.

Poundworld said Bradford had been chosen for the launch of the Poundworld Express format due to the success of its full-size store on Kirkgate and also because of its closeness to the firm’s base to enable progress of the new format to be easily tracked.

The company also pledged to expand its Discount UK operation to plug a gap in the market left by the failure of Woolworth’s. Discount UK, which has a branch at Bradford’s Forster Square retail park, breaks Poundworld’s single-price model by selling goods for between 28p and £25.

Poundworld chief executive Chris Edwards – who appeared in Pound Shop Wars – opened his first Bargain Centre store in 1975 in his hometown of Wakefield after working on his family’s market stall selling crockery after school and at weekends.

He borrowed £2,500 to build a shop front and within four years had opened two more stores when his brother Laurence joined the business.

In 1997 they opened their first single-price store under the name Everything’s £1, renamed Poundworld in 2004. The company, which has 4,000 staff, plans to double its size to 400 shops over the next five years.

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