// The Original Factory Shop unveils plans to open 50 new stores over the next three years
// Alistair McGeorge set to re-join the retailer as chairman
The Original Factory Shop has announced expansion plans that entails opening over 50 new stores in the next three years as part of the next stage its business growth strategy.
The new stores will include locations such as Whitby, Yorkshire and Frinton-on-Sea, Essex which will open today.
These follow two recently opened new stores – in Nailsea, Somerset and Holsworthy, Devon – and are likely to create around 400 jobs with roles including store managers and supervisors.
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The announcement follows the recent launch of The Original Factory Shop’s first transactional ecommerce site as well as a reserve-and-collect service now available at stores nationwide.
The retailer said it was financing its new growth plan through “strong” cashflow generation and a flexible new credit facility.
“Our shops sit at the heart of local life, making a difference in communities,” The Original Factory Shop managing director Phil Briggs said.
“This commitment to store opening targets over the next three years is testament to the importance of convenience stores and the role that our shops play in local life and will help provide more job opportunities locally at a time when they need them most.”
The retailer also announced that Alistair McGeorge will re-join the business as chairman, succeeding Matt Williams.
McGeorge said: “I am pleased to be re-joining the business at such a pivotal time and I am really excited about the growth plans that are already beginning to come to fruition, led by a superb leadership team.”
During the Covid-19 pandemic, The Original Factory Shop remained open as an essential retailer and benefited from shoppers preferring to shop on their local high streets rather than driving to the nearest town centre or city.
With many stores also located in coastal and seasonal towns, the retailer said it was also likely to benefit from the growing demand for staycations this year.
The Original Factory Shop currently has 166 stores across the UK.