Rival in sales war on Primark
DS4PK11 readers special offer THE Poundland store chain has declared war on Primark with plans to expand its Pep&Co fashion outlets to go head-to-head with its high street rival.
Bosses want to open 91 new Pep&Co stores by the summer to add to the 200 already trading.
Poundland said the move would make it a “top 15” clothing retailer by volume, alongside the likes of River Island, Top Man, Asos and Peacocks.
Pep&Co prices start at £1 and 95% of the range is £10 or under, rivalling Primark on value.
Poundland managing director Barry Williams said: “We’re working flat out. Shoppers will have a major new reason to shop in our stores.”
According to accounts filed at Companies House, Pep&Co’s holding company Pepkor UK made a pre-tax loss of £18.9million in 2016 on £29m sales.
The announcement follows a horror week for the high street with the Toys R Us and Maplin chains both collapsing into administration.
Prezzo and New Look are also poised to shut stores through Company Voluntary Arrangements, following similar moves by Jamie’s Italian and burger chain Byron. A HONDA Z50A trail bike with a 49cc engine used by John Lennon to ride around his estate in Tittenhurst Park, Berks, fetched £56,250 at auction in Solihull, West Mids.
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