Poundland boss hails ‘amazing’ trade after opening in 64 former Wilko stores
Poundland's boss has hailed 'amazing trade'
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The boss of Poundland has hailed the “amazing” trade across its new stores which have reopened in former Wilko sites.
The discount retailer converted dozens of locations into Poundland shops following the collapse of Wilko earlier this year.
Poundland opened 64 former Wilko shops under Poundland's branding after agreeing a deal to buy up to 71 sites.
The chain has hired more than 1,000 former Wilko workers.
Wilko collapsed into insolvency in the face of growing debts and weak consumer demand
PA
Wilko collapsed into insolvency in the face of growing debts and weak consumer demand, leading to 400 stores closing and 12,000 workers being made redundant.
Austin Cooke, managing director of Poundland, said the collapse of Wilko does not mean the high street is in turmoil, but conceded the backdrop is still challenging for retailers.
He said: “There is still plenty of positivity on the high street.
“Every time we have opened a new store we see that – people are really chuffed we are opening up in their towns.
“You can’t deny times are tricky for many and the cost-of-living situation is having an impact, but it just gives us more and more reason to give outstanding value.”
Poundland has refurbished some of the reopened Wilko shops, including installing freezers and other food aisles.
The retailer previously announced plans to refurbish the reopened sites in the new year.
Mr Cooke said: “The response in those Wilko shops from customers and workers has been amazing.
“We saw an opportunity there to accelerate our openings are really happy with how it has gone.”
LATEST DEVELOPMENTS:
The Range owner CDS Superstores bought Wilko’s intellectual property, website and brand
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Poundland has now grown to a network of more than 800 shops across the UK, having also opened 23 other stores separate to the former Wilko sites over the past 70 days.
Mr Cooke said the brand would continue to open stores across the UK and is still seeing “opportunities” in the retail property market.
The Range owner CDS Superstores bought Wilko’s intellectual property, website and brand earlier this year.
They later announced Wilko products would be stocked in The Range sites, and the company has also since reopened three Wilko concept stores, in Luton, Exeter and Plymouth.
The firm had planned to open five Wilko concept stores before Christmas, ahead of a wider rollout in 2024.