Poundstretcher has hired ex-Peacocks boss Richard Kirk as CEO.

Kirk, who quit Peacocks after it slipped into administration in January, has a 40-year career in retail, which started on the shop floor at Woolworths. He was also MD at Iceland Foods from 1978 to 1996.

“I am delighted to be joining Poundstretcher,” he said. “It is ambitious and extremely well-placed - with 400 stores across the country - to take advantage of current economic conditions.”