Poundworld to Create 4,400 Jobs
09 July 2015
Wakefield-based value retailer Poundworld has announced the creation of up to 400 new jobs in Wakefield and a further 4,000 throughout the country with a new Wakefield warehouse development.
A 524,000 sq ft distribution centre will be completed in autumn 2016, allowing the retailer to open 200 stores.
Poundworld predicts that between 300-400 jobs will be created at the warehouse, and 3,500-4,000 indirectly through the opening of the new stores.
280 new stores altogether will be served from the centre, including its brand Bargain Buys, a multi-price retailer.
Poundworld Retail was acquired by investment firm TPG, which put £200m into Victoria Plumb last year. Founder Chris Edwards, his son, also a Chris, and other management team members signed for a "substantial" minority stake in a £150m all-cash deal.
The company is now planning to open 40 to 50 stores a year over the next three years
Construction will start later this summer on the site near Junction 31 and the M62, adjoining retailers including Asda, HSBC, TX Maxx and Royal Mail.
Poundworld was founded in 1974 on a market stall in Wakefield. The company has over 280 stores across the UK, employing over 6,000 staff.
Founder and chief executive Chris Edwards said:
"Our new distribution centre will improve efficiency and allow us to offer our customers even more amazing products, increasing the variety in our stores.
"It's an exciting step forward for us and we look forward to providing further jobs in the Yorkshire region and in other areas across the UK that will be home to new Poundworld stores".