Poundstretcher is opening a wholesale clearance store in a warehouse at its head office in Kirby Muxloe, Leicestershire.
The warehouse is “stacked high” with “case stock at knockout prices”, according to Poundstretcher CEO Andy Atkinson.
“I’m delighted to introduce you to our latest venture, which is our Bargain Buys clearance store,” said Atkinson said in a video posted on Linkedin today, showing him speaking from the warehouse.
“The reason we’ve done this is because loads of local traders in Leicestershire area were saying to me: ‘It would be great if we could access some of your products that you buy from all over the world’.
“We’ve got hundreds and hundreds of products in here, everything from homeware to seasonal to gardening to everything you could like.”
The store will open from 9am until 3pm on Monday to Wednesday.
“Today, we’re giving you a first look inside Bargain Buys Clearance Shop, our brand-new wholesale clearance shop opening at our distribution centre in West Leicestershire,” said Poundstretcher.
“The 3,000 sq ft space has been transformed into a customer-facing clearance shop, giving local businesses access to hundreds of products across home, garden, household, bathroom, kitchen, pet and DIY, all at wholesale prices.
“Products will be sold by the case as part of our ‘when it’s gone it’s gone’ approach.”
Bargain Buys is a retail brand that Poundstretcher started using on some of its stores in 2018.
Read more: Why did Poundstretcher need a restructure and what’s the plan to turn it around?
Poundstretcher came close to falling into administration this year after cashflow problems threatened its ability to pay staff and suppliers. The discount chain, owned by US investment firm Fortress, was saved in June when High Court approved a restructure plan that secured rent reductions on scores of stores, to as little as nil in some cases.
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