Pound Deal logo sign

The first of Poundstretcher’s new Pound Deals single-price discounter stores have opened today.

The retailer has opened a 10,000 sq ft store in Merthyr Tydfil and a 4,500 sq ft store in Chertsey. The stores will sell personal toiletries, household cleaning products, homeware, DIY, car care and baby products, party-ware and stationery.

Pound Deals will also sell a range of ambient, chilled and frozen food & drink lines.

New Poundstretcher MD Gerry Loughran told The Grocer that today’s openings were part of five stores it planned to open in the next six weeks. He also said the retailer was actively looking for sites of between 4,000 sq ft and 10,000 sq ft and that he was planning to grow the business to a total of 50 stores over the 12 months.

“We have over one million square feet of distribution warehousing available via Crown Crest to support the expansion and the business is well funded for future growth.”

Loughran, who spent nearly 10 years with 99p Stores, insisted that the Lalani family - the former owners of 99p Stores - were not involved in Pound Deals. He explained that Nadir Lalani was currently using an office in Poundstretcher’s Huddersfield HQ, from which he was planning to launch a new venture in his native Tanzania and that he was also supporting his daughter who also had an office there for an internet business, which sells products sourced from Poundstretcher. Neither were related to Pound Deals, he said.

The Grocer understands that the Lalanis accepted a non-compete agreement as part of the deal to sell 99p Stores to Poundland for £55m last year.