Poundstretcher

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

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

History[edit]

Poundstretcher was established in 1981 by Paul Appell and Stephen Fearnley[3]. It became a subsidiary of Brown & Jackson plc, originally a construction firm which can be traced back to 1923, in March 1989.

In 1995 Pepkor, South Africa’s largest retailer, acquired a controlling stake in Brown & Jackson plc and refinanced it. Brown & Jackson expanded rapidly with What Everyone Wants and Your More Stores purchased in October 1997 and The Brunswick Warehouse in January 2000. During 2000 the group continued to expand organically, including its first overseas venture with the opening of 6 stores in Poland[4].

During 2002 the group embarked on a major restructuring. The board undertook to dispose of the trading subsidiaries other than Poundstretcher Ltd and this disposal was completed on 27th September 2002. In 2003 the company undertook a rebrand of company name to Instore plc. Poundstretcher stores were gradually being rebranded to ...instore, however in 2006, a new chief executive concluded that the rebranding was not working, and from June 2009, new stores were opened as Poundstretcher after Instore plc was acquired by the Crown Crest Group.[5] 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 bought Alworths.[6][7] 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.[8][9][10]

Market share[edit]

In 2004, the chain had over 338 shops throughout the United Kingdom. Its slogan was Better than Ever, although the stores were later marketed alongside ...instore, with the same offers and the instore slogan Shop Smart, Live Well.

Products[edit]

Poundstretcher stocks 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(sv), thought to be inspired by Woolworths' demise.[1]

Ownership[edit]

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[11].

The Poundstretcher Group is now owned by Crown Crest Group, which is run by brothers Rashid & Aziz Tayub.

Outside United Kingdom[edit]

In April 2012, Poundstretcher opened its first store outside United Kingdom, at Madina Mall, Dubai, UAE.[12][13][14][15]

Saving Poundstretcher[edit]

In August 2018, Channel 4 broadcast Saving Poundstretcher which focused on former Poundworld owner Chris Edwards's attempts to revitalise the chain[16].

See also[edit]

References[edit]

  1. ^ a b c "Poundstretcher - About Us". Retrieved 10 September 2014. 
  2. ^ a b Zientek, Henryk (1 December 2013). "Huddersfield-based Poundstretcher to open more stores". The Huddersfield Daily Examiner. Retrieved 10 September 2014. 
  3. ^ [1]
  4. ^ Internet Wayback Machine
  5. ^ "Instore goes back to its roots with return of Poundstretcher brand". Yorkshire Post. 30 June 2009. Retrieved 10 September 2014. 
  6. ^ Harrison, Nicola (6 May 2011). "Poundstretcher snaps up Alworths stores". Retrieved 10 September 2014. 
  7. ^ "Poundstretcher steps in to take over Alworths stores". The Courier. 6 May 2011. Retrieved 10 September 2014. 
  8. ^ Brooks, Beth (11 Feb 2012). "Poundstretcher snaps up troubled Ugo chain from administration". The Grocer. Retrieved 10 September 2014. 
  9. ^ "Poundstretcher pounces to snap up 18 Ugo stores". RetailWeek. 9 February 2012. Retrieved 10 September 2014. 
  10. ^ Whiteaker, Jon (9 February 2012). "UGO sold to Poundstretcher in pre-pack deal". Retail Gazette. Retrieved 10 September 2014. 
  11. ^ Fearnley secures Primeur stake on £3m deal
  12. ^ Holland, Tiffany (31 May 2012). "Poundstretcher's Dubai store opens". RetailWeek. Retrieved 10 September 2014. 
  13. ^ "Poundstretcher to open in Dubai". The Telegraph. 16 Apr 2012. Retrieved 10 September 2014. 
  14. ^ 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. 
  15. ^ Tahir, Tariq (16 Apr 2012). "Poundstretcher to open first shop in Dubai". Metro. Retrieved 10 September 2014. 
  16. ^ Saving Poundstretcher - All 4

External links[edit]