Poundland has hit another major landmark in its development after the single-price retailer opened its 300th store.

The new Cirencester outpost is the latest of 55 former Woolworths stores that are now under the Poundland fascia.

The move is part of plans to open 50 new stores in the current financial year, resulting in 2,000 additional staff coming on board.

“People have embraced Poundland as part of their weekly shop,” said chief executive Jim McCarthy. “Despite the economic uncertainty, Poundland continues to create jobs and positive employment prospects.”

Poundland was acquired by private equity group Warburg Pincus in May. The retailer posted profits of £21.5m for the previous financial year against sales of almost £510m.

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Asco story ends as Poundland opens on site (18 September 2010)
In for a pound: an interview with Jim McCarthy (28 August 2010)