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Poundland breaks the 300 store barrier

Poundland, Europe's biggest single price discount retailer, is celebrating this week as it opens its 300th store.

The retailer, which has retained its £1 price point for twenty years, opens in Cirencester tomorrow (Thursday 28 October), adding the scenic Cotswold town to its growing portfolio of stores.

The opening comes as a boost for the town, as the ex-Woolworths store has been empty for a significant amount of time.

Poundland is confident that residents from all income brackets will shop in the high street store once they see the wide range of products, at the fixed price point of just £1. Poundland is certain that Cirencester will become a huge hit like Twickenham, Stratford upon Avon and Bury St Edmunds which are just some of the country's busiest Poundland stores.

Jim McCarthy, Chief Executive, said: "People really have embraced Poundland as part of their weekly shop. After all, whether you prefer Duchy Original Earl Grey or Tetley regular for your brew, why would you pay more than a £1 when we have both?"

The 300th store comes after the company's strong annual results announcement and the rapid store expansion so far this year.

So far, Poundland has opened in 55 ex-Woolworths stores and has employed hundreds of former ex-Woolworths staff.

Cirencester has suffered from unemployment in the same manner as other towns and cities. Ninety per cent of our new Poundland colleagues are from the area and many have been unemployed for as long as five years.

Jim McCarthy concludes: "With economic uncertainty we are pleased that Poundland continues to create jobs and positive employment prospects. Each time we open a new store, we create about thirty jobs for new colleagues who deliver Poundland's amazing value shopping proposition to thousands of savvy shoppers".

Source : The Retail Bulletin

27 October 2010
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