Eight former Peacocks stores have been snapped up by Poundland with the low-cost retailer signalling its intention to consider the acquisition of further properties.
Poundland – which already has 389 stores nationwide – says the sites acquired from Peacocks represented “amazing value” and include sites in Seacroft, Yate, Haringey, Newmarket, Dartford, Falkirk and Hoxton.
The first three stores in Seacroft, Haringey and Newmarket will open on Thursday 5 April and gives Poundland approximately 44,000 square feet of additional retail selling space.
Jim McCarthy, chief executive officer of Poundland, said the company has grown significantly over the past 12 months and will continue to open new stores creating employment opportunities.
He added: “We bring our unique and well proven single price discount proposition and provide amazing value every day to thousands of new customers in these towns.”
A total of 220 jobs will be restored in these communities where the Peacocks’ jobs were lost and local recruitment is already under way.
The majority of the Peacocks business was bought out of administration by Edinburgh Woollen Mill, safeguarding 6,000 jobs in February.
Edinburgh Woollen Mill purchased the Peacocks brand, 388 stores and concessions, as well as the business’ headquarters in Wales.