Poundstretcher

Poundstretcher
Industry Retail
Founded 1981
Headquarters Huddersfield, England
Number of locations
 410[1][2]
Owner Crown Crest Group
Website www.poundstretcher.co.uk
Poundstretcher Extra
Poundstretcher

Poundstretcher (previously styled as £-stretcher or ...instore) is a chain of discount stores operating in the United Kingdom. It is based in Deighton, Huddersfield.

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.[3] In September 2012, the group had 400 stores in the United Kingdom.[1][2]

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.[4][5] 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.[6][7][8]

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.[1]

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.[9][10][11][12]

References

  1. 1 2 3 "Poundstretcher - About Us". Retrieved 10 September 2014.
  2. 1 2 Zientek, Henryk (1 December 2013). "Huddersfield-based Poundstretcher to open more stores". The Huddersfield Daily Examiner. Retrieved 10 September 2014.
  3. ↑ "Instore goes back to its roots with return of Poundstretcher brand". Yorkshire Post. 30 June 2009. Retrieved 10 September 2014.
  4. ↑ Harrison, Nicola (6 May 2011). "Poundstretcher snaps up Alworths stores". Retrieved 10 September 2014.
  5. ↑ "Poundstretcher steps in to take over Alworths stores". The Courier. 6 May 2011. Retrieved 10 September 2014.
  6. ↑ Brooks, Beth (11 Feb 2012). "Poundstretcher snaps up troubled Ugo chain from administration". The Grocer. Retrieved 10 September 2014.
  7. ↑ "Poundstretcher pounces to snap up 18 Ugo stores". RetailWeek. 9 February 2012. Retrieved 10 September 2014.
  8. ↑ Whiteaker, Jon (9 February 2012). "UGO sold to Poundstretcher in pre-pack deal". Retail Gazette. Retrieved 10 September 2014.
  9. ↑ Holland, Tiffany (31 May 2012). "Poundstretcher's Dubai store opens". RetailWeek. Retrieved 10 September 2014.
  10. ↑ "Poundstretcher to open in Dubai". The Telegraph. 16 Apr 2012. Retrieved 10 September 2014.
  11. ↑ Hartley-Parkinson, Richard (16 April 2012). "Every Dirham counts: Mega-rich Dubai feels the pinch as Poundstretcher opens at Madina Mall". Daily Mail. Retrieved 10 September 2014.
  12. ↑ Tahir, Tariq (16 Apr 2012). "Poundstretcher to open first shop in Dubai". Metro. Retrieved 10 September 2014.
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