Poundworld founder Chris Edwards to launch new Onebelow discount chain

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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.

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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34 COMMENTS

  1. 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

  2. Just hope he’s not going headlong into another situation that will lead to many staff again facing redundancy.
    Geoff

    • 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

  3. 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!

  4. 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?

  5. 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

  6. 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.

  7. 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

    • 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

  8. 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

  9. Please open a new store in Shawlands, Glasgow. It’s desperately missing Poundworld and the staff that used to be in the shop.

  10. 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

  11. 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

  12. 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.

  13. 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.

  14. 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

  15. 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

  16. 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

  17. 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 !

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