Between 300 and 400 jobs will be created at the 524,000m2 distribution centre, as well as 3,500 to 4,000 jobs at new stores, it has been reported.
The centre should be completed by autumn 2016 and allow the retailer to open 200 stores.
It will boost efficiencies, Poundworld Retail’s founder and chief executive Chris Edwards said.
Improve efficiency and variety
“Our new distribution centre will improve efficiency and allow us to offer our customers even more amazing products, increasing the variety in our stores,” he said.
“It’s an exciting step forward for us and we look forward to providing further jobs in the Yorkshire region and in other areas across the UK that will be home to new Poundworld stores.”
The retailer plans to open 40 to 50 new stores a year over the next three years.
In recent months, it has launched brand new stores in Lichfield and Brighton.
- 1974: Chris Edwards opens market stall in Wakefield
- 1997: Starts trading as ‘Everything’s £1’
- 2004: Chris’s son Chris jnr joins the business straight from school
- 2004: Rebrands business as Poundworld
- 2013: Opens Bargain Buys
- 2014: Launches poundshop.com
- 2015: Sell majority share to TPG for £150M
The move follows a £150M takeover of Poundworld by investment firm TPG in May.
Edwards, who started the business as a market stall in 1974, said TPG would bring extensive retail experience to help Poundworld develop infrastructure and meet its goals.
Poundworld Retail has more than 280 stores across the UK, employs roughly 6,000 staff and serves 2M people a week.
In 2013, Poundworld launched Bargain Buys and now trades from more than 50 locations.
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