25p easyFoodstore forced to close by bargain hunters

By Michael Stones contact

- Last updated on GMT

Bargain mad shoppers forced the closure of the easyFoodstore yesterday
Bargain mad shoppers forced the closure of the easyFoodstore yesterday

Related tags: Retailing

The new 25p easyFoodstore was forced to close yesterday, after hundreds of bargain hunters cleared the shelves of its London store.

EasyFoodstore blamed the closure on the huge publicity generated by its 25p promotional offered on all food and drink products this month.

The retailer’s suppliers had been “unable to meet the demand”,​ according to a notice posted on the store’s website. Read the notice in full below.

After restocking the discount store reopened today and has reported brisk trade so far. ​The store is now open again (today Friday 50 and trading business as usual with long lines of customers queuing outside.

All priced at 25p

Launched on Tuesday (February 2), the shop located in West London, sells more than 70 food and drink products – all priced at 25p. Food items included staples such as: spaghetti hoops, chicken pizza, canned soup and digestives.

Drink products on offer included: ground tea and coffee, orange juice and orangeade.

“easyFoodstore currently sells a range of 76 products,​ meaning that a shopper could buy all of the goods on offer for less than £20,”​ said the retailer.

‘Between food banks and discount retailers’

Easy empire entrepreneur Stelios Haji-­Ionnou said prices will eventually rise in March – probably to about 50p.

easyFoodstore’s target market

"a niche below some of the current budget operators, such as Aldi and Lidl".

The plan behind the project was to launch a new "easy branded player that sits in between food banks and discount retailers”.

Haji­-Ionnou said his interest in the UK food retail market was sparked by the widespread use of food banks and his philanthropic operations in Greece and Cyprus. His charity handed out free lunchtime snacks to the needy in both countries.

The easyJet founder was on record as saying there was a gap in the food retail market: "a niche below some of the current budget operators, such as Aldi and Lidl".

Other brands in Haji­-Ionnou’s easy empire included: easyJet, easyBus, easyCar and easyHotel.

 

How easyFoodstore announced the closure

“easyGroup and the team at easyFoodstore regret to announce that we will remain closed for one day tomorrow 4th of February and expect to open with business as usual on Friday the 5th of February at 9am.

“The reason for this store closure is that due to the huge publicity that our 25p promotion has attracted, we have had queues of customers coming to shop today 3rd of February and hence we sold out all our stock of food items today.

“Unfortunately our usual suppliers are unable to meet the demand in order to restock the shop again fully until Friday.

“Thanks for your patience and hope you will come back again soon during February when the promotion is on, always whilst stocks lasts.”

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