Industry Retail Number of locations 410 Founded 1981 | Owner Crown Crest Group Headquarters Huddersfield Number of employees 5,000 | |
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Website www.poundstretcher.co.uk Profiles | ||
Poundstretcher (previously styled as £-stretcher or ...instore) is a chain of discount stores operating in the United Kingdom. It is based in Deighton, Huddersfield.
Contents
History
Established in 1981, by Paul Appell and Stephen Fearnley, it became a subsidiary of ...instore. Poundstretcher stores were gradually being rebranded to ...instore as part of the change of ownership to ...instore plc. However, in 2006, a new chief executive concluded that the rebranding was not working, and from June 2009, new stores were opened as Poundstretcher stores. In September 2012, the group had 400 stores in the United Kingdom.
In September 2009, Poundstretcher's new branding was revealed. A new logo and slogan was created, entitled; "Poundstretcher: Look What's New Instore!" and; "Welcome To The Original Value Store". Larger stores are now called Poundstretcher Extra. Since 2011, the slogan is "every penny counts..."
In May 2011, the company brought over Alworths. On 6 February 2012, Poundstretcher acquired 20 stores from the UGO chain, after it was placed in administration. In September 2012, it was announced that out of the 20 stores that were acquired, 14 were to close, and the remaining 6 most profitable outlets would remain as part of the group.
Market share
In 2004, the chain had over 338 shops throughout the United Kingdom. Its slogan was Better than Ever, although the stores are now marketed alongside ...instore, with the same offers and the instore slogan Shop Smart, Live Well.
Products
Poundstretcher stock a large product range, including food and drink, homewares, seasonal, clothing, gardening, toys, home decor, stationery, cleaning and household products and many other ranges, some stores also have a Pic'n'Mix instore, supplied by Candyking, thought to be inspired by Woolworths' demise.
Ownership
After selling Poundstretcher to Philip Harris, Mr. Appell & Mr. Fearnley acquired control of a failing retail business, United News Shops, which they managed to revitalise. It is now the largest convenience store and cafeteria business servicing British hospitals. In March 2008, United News Shops was sold to WHSmith. The Poundstretcher Group is now owned by Crown Crest Group, which is run by brothers Rashid & Aziz Tayub.
Outside United Kingdom
In April 2012, Poundstretcher opened its first store outside United Kingdom, at Madina Mall, Dubai, UAE.