In the same week that Costcutter lost one of its biggest members, the symbol group pledged to plough an additional £1m into the deals available to retailers at its annual exhibition.

The pledge follows the success of the symbol group’s 25th anniversary exhibition and gala in Birmingham last year. The event is being repeated in 2012 and Costcutter said that as well as hundreds of exhibition-only deals on offer from manufacturers, it would also invest a further £1m to create its “best ever deals”.

“Last year’s event was a huge success and supplier and retailer bookings are up on the same point last year,” said CEO Nick Ivel. “Injecting an extra £1m into deals is our way of rewarding our retailers with some of the very best prices available.”

Trading director Angela Barber added: “We have been working with suppliers since last year’s event. This extra £1m creates an added stimulus for retailers who will be able to take advantage of a huge number of cracking exhibition-only deals.” The event takes place on 17 September in Birmingham.