A property tycoon has stepped in to save discount chain Poundworld from administration and is hoping to open 250 new stores in the next 18 months.
The collapse of the chain which saw 355 stores close and 5,100 jobs axed was saved by Manni Hussain, the chairman of Leeds property company 88m Group.
Hr Hussain wants to start opening Poundworld stores by early next year with 250 new outlets open by the end of 2019.
The chairman is confident the chain will thrive – particularly once the UK leaves the EU.
He told The Grocer “The only business that can survive on the high street, especially with Brexit coming, is something that is affordable to everyone.”
He added: “I really want a pound shop in every area there is, deprived or not.”
Poundworld used to sell items at a range of price points, including items over £1, but Mr Hussain said he wants to keep prices “simple”.
There is no news as yet to which locations the Poundworld stores will be opening but should Swindon be chosen it will surely be a welcome return to the town centre filling the large empty unit the closure left behind.
