Poundland boss hails ‘loads of positivity’ on the High Street

The boss of Poundland stated there was ‘plenty of positivity’ on the High Street as he hailed sturdy buying and selling at dozens of former Wilko shops snapped up by the worth retailer.

Managing director Austin Cooke stated that whereas ‘times are tricky’, there had been an ‘amazing’ response from prospects to the newly opened retailers.

Poundland agreed to purchase as much as 71 former Wilko websites in September after its rival low cost retailer collapsed. 

Wilko’s demise resulted in 400 retailers closing and 12,000 jobs being misplaced this summer season.

Its former bosses have been lambasted for poor management, together with a failure to money in on a requirement for inexpensive items amid the price of dwelling disaster. But Cooke stated: ‘There is still plenty of positivity on the High Street.’

Rebranded: Poundland agreed to purchase as much as 71 former Wilko websites in September after its rival low cost retailer collapsed

The Poundland chief added: ‘You can’t deny occasions are difficult for a lot of and the price of dwelling scenario is having an impression, but it surely simply offers us extra purpose to offer excellent worth.’

His agency has to this point opened 64 former Wilko shops underneath the Poundland branding.

And it has employed greater than 1,000 former Wilko employees.

Cooke stated that there had been an ‘amazing’ response from the retailer’s prospects.

He added: ‘Every time we have opened a new store, we see that. People are really chuffed we are opening in their towns.

‘We saw an opportunity there to accelerate openings and are really happy with how it has gone.’

Poundland has additionally opened one other 23 shops along with these it bought from Wilko’s directors throughout the previous two months and is planning extra openings in 2024.

Its property has grown to greater than 800 retailers within the UK amid an formidable growth.