One of the UK's biggest discount retailers has set up shop in a Scottish town. The exciting news comes just days after said firm was saved from administration.
Poundstretcher announced yesterday (June 17) that it had opened a new branch in Kelso. Located on Bowmont Street, it takes over a unit that was once formerly housed by the Original Factory Shop.
The fellow bargain high street chain has now completely disappeared from our high street after collapsing earlier this year. All remaining 137 stores were closed down by April, marking the end of a 57-year era.
Its unit in the Scottish Borders has remained empty until the recent Poundstretcher announcement. It will offer locals the chance to shop its wide range of everyday essentials, such as home, beauty, gardening and more, all at affordable prices.
The opening also marks the first Poundstretcher store for the Kelso area. The discounter, which operates over 300 stores nationwide, has a significant presence across Scotland, with over 30 branches in areas including Aberdeen, Keith, Falkirk, Glasgow and Edinburgh.
Poundstretcher was recently saved from going into administration. Taking to social media to announce the new opening, Poundstretcher wrote: "It's official!! Our NEW Kelso store is now OPEN" Come and visit us on Bowmont Street in Kelso - we’d love to see you."
Doors were officially opened at 9am and select shoppers were given a treat. The first 100 visitors were provided with a free goody bag to celebrate the latest opening, which is just one of many from the retailer across the UK.
It comes just days after the Daily Record reported that Poundstretcher had officially been saved from collapse. In early April, the bargain chain was said to be facing administration following a difficult sales period. Restructuring plans were then launched and sent to the High Court. As of June 15, these plans were given approval after 93 percent of voting creditors backed the plans that were initially outlined back in March.
Unlike many of its fellow high street rivals, Poundstretcher's plans have ruled out making any closures. The move means that its entire 300-strong network has been safeguarded, with over 3,000 staff members protected from redundancy.
Founded in 1981, Poundstretcher has remained a go-to staple for bargain essentials across branded and non-branded items. However, it has faced a "difficult macroeconomic environment" recently, leading it to lodge its latest plans for rescue.
Speaking on its restructuring, CEO Andy Atkinson said: “Today, our company is in a stronger position to continue investing in our stores, our people and the overall customer experience. Our priority now is exactly what it has always been — ensuring our customers across the UK have access to great products at great value”.
In other Scottish high street-related news, Glasgow foodies have said "the countdown is on", as Wingstop is set to be opening its fourth branch in the city, located at the Fort Shopping Centre, on Monday, June 22. Meanwhile, Fife-founded bakery Bayne's the Family Bakers has ramped up its Glasgow expansion with the opening of its new branch on Gordon Street, located just across from Central Station, meeting the firm's demand for high footfall areas.
