The founder of Poundworld Chris Edwards has announced plans to launch a brand-new chain of discount stores over the next year.
Speaking to the Financial Times Edwards said he planned to launch Onebelow, a chain returning to the “pound shop” concept of his former Poundworld empire, which officially entered administration in June leaving over 5000 former staff facing redundancy.
Despite the fixed price point format being put under strain thanks to growing import prices after Brexit, Edwards is confident there is still a demand for budget stores and plans to open over 100 Onebelow stores by the end of 2019.
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A strict single price point would differentiate Onebelow from both Poundworld and the market leader Poundland.
Edwards has previously critiqued Poundworld’s decision to expand its offering past the £1 mark after he sold the retailer to TPG for £150 million in 2015, arguing that it confused customers. This tactic has now also been adopted by Poundland.
“We are still in contact with suppliers in the Far East,” Edwards told the Financial Times.
“We’ve had a good response from them and from landlords.”
The first Onebelow store is due to open in 2019, and will become the latest offering in a booming discount market.
Last month the UK’s largest grocer Tesco launched its own foray into the budget market with Jack’s, a store with a business model separate to Tesco aimed at taking on Aldi and Lidl.
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37 Comments. Leave new
good luck chris you’ll smash it worked for you at poundworld for 18 years gutted when we got finished hope you open 1 up in Ashton under lyne
Hi Chris Edwards please can you make contact with me I would like to have a word if I can with you or is their a email address I could contact you on
So glad to hear this. Was very cross when Poundworld started upping its prices and that Poundland has done the same – loses the whole point of the store. I look forward to shopping in the new store when it gets a branch near me!
Well done we need more shop to open up
Fantastic news I really hope you bring the stores back to Swansea in Wales .worked for the company for 7 years & would go back tomorrow . Worked with great staff & had lovely customer which I miss . Let’s hope it’s a success everyone I speak 2 really misses the shops & company
I’m so gladyou’re bouncing back – never went to Poundland. I actually don’t mind things costing more than a pound so long as its clear – I just don’t want a store full of rubbish
What about a 2quid shop?
How do apply for a job
Hello Chris Edwards, hoping your new store in St. Helens will go from strength to strength, although I often shopped in Poundworld, but then had to go to Poundland, but will certainly give your new store a whirl and see if there are any bargains – good luck with this venture!
Best wishes
Barbara Millner
St. Helens
I worked more than 8 years for Poundworld. It was a learning retail business institution for me. I really missed the company and I hope chris will be back again and we are here for him. Good luck Chris
Hope all goes well good luck
We need one in Worksop. Its dead only one poundland need more shops good look and thank you
He always came across as a down to earth decent guy. Hope it goes well for him.
Please open a new store in Shawlands, Glasgow. It’s desperately missing Poundworld and the staff that used to be in the shop.
Great to see you back in Crystal Peaks, always lovely, friendly and helpful staff and so pleased to see many of the same staff back in One Below !
The poor staff with their terrible, rude attitude to customers and service in Poundland will have to pull their socks up big time now youre back there !
I’m so gladyou’re bouncing back good luck chris
Glad you’re back chris .work 7 years at poundworld would go back working for you again chris ps still looking for full time work as a class one driver
Great to you back after that shit worked with
Hurry up! Poundland get worse and worse!
I delivered a truck load of goods to there new warehouse yesterday. Great set of lads running it. Best of luck to them all in there new venture
Good luck to Chris Edwards.he was a good man for his business poundworld really missed
Been to your shop in Maidenhead , please to see a proud shop there again as I think Poundland is not so good
Oh please I’d go back tomorrow
Fantastic News he tried to help pound stretcher and they got rid of him great guy well deserved hope it goes well, I spotted the new store in Cheetham Hill retail park in Manchester today its have a very nice refit.
Thank you for considering the customer there is a need for pound stores to supply quality goods to the many not on high income and to keep the other retail stores to be competitive
Well done Chris wish you well been a big miss in the north east
Regards
David stone
Good luck Chris Edwards, you are the man that can, don’t let anything get in your way, and don’t forget we want a store in Bury. Happy new year.
Good luck. I am sure with all the passionate and hard work you do will be a huge success.
Good look we need more stores to many empty shops in the high street let’s reopen good look and thank you
Good luck chris was good to work with you and Darren for a short period
Well done Chris I have followed your retail business from poundworld to poundstrecher you can do it. As a reatil store manager I see the gab in the market. I would deffently be looking at coming to run one of your stores
Thank you Chris for having another go. I hope you will be opening one in Rotherham town centre-you would always be very welcome.
All the best with the new venture.
Just hope he’s not going headlong into another situation that will lead to many staff again facing redundancy.
Geoff
Wish you best of luck Chris. I worked for you 9 years and love to again.
Loved working at poundworld i was there for 8 years i left just as the new owners took over knew they were gona fail but good luck chris looking forward to shoppin there again
good luck with the new venture hope we get a store close to us in Cleckheaton
Just what the high street needs, more shops full of landfilland short dated processed cr*p
Good luck Chris I bet you will help the staff you had before the other company made a mess off looks like we are going to have one in king lynn can’t wait to have a look