Poundstretcher rewards staff bonus for “ongoing hard work” during CVA

Poundstretcher
Poundstretcher has opened 47 new stores across the UK over the last year
// Poundstretcher is rewarding workers with 10% bonus for their hard work
// The pay increase percentage is more than the increase in National Minimum Wage

Poundstretcher has announced it is rewarding all of its employees in recognition of their hard work throughout the pandemic, as well as the company’s restructure after its CVA.

From January 1 2022, all employees who have completed a year’s full service will receive a 10 per cent increase of their basic annual salary.

The pay increase percentage is more than the increase in National Minimum Wage the government is implementing from April 2022.


READ MORE: Poundstretcher warns of price rises despite CVA store closures


Poundstretcher has opened 47 new stores across the UK over the last year and plans to open a further 50 stores in the next year.

The retailer’s newest stores include Derby, Erdington, Poole, Truro and three stores in Northern Ireland.

The business has managed to retain strong sales over the last half year – recording sales of £140 million in the six months to the end of September – in spite of a CVA and additional external cost pressures.

“We are proud and inspired by the way our company has risen to every challenge, from our CVA to the pandemic, with resilience, courage and a caring attitude,” Poundstretcher chief executive, Aziz Tayub said.

“We really value the excellent contribution that all of our employees have made over the last year to maintain business continuity and ensure we are in a position to achieve further growth, and as such have decided to reward our staff to show our deep appreciation for their ongoing hard work.”

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