Poundworld to create 1,800 jobs

Discount retailer Poundworld pledged to create 1,800 jobs today as it unveiled a new brand of stores designed to fill the gap left by the closure of Woolworths.

Poundworld, which has 120 stores across the UK, is growing its Discount UK brand, which sells products priced from 28p to £25, into a national chain by adding another 15 stores to its 13-strong portfolio.

Buying director Chris Edwards, who founded Discount UK, said: "Woolworths offered variety and value and when it closed we felt we could step into its shoes with a modern multi-price format."

In addition, Poundworld, which sells thousands of products from Heinz soup to Fairy washing liquid to toys for a £1 or less, plans to open a further 40 stores over the next 12 months after a 42% rise in sales to £132.9 million in the year to March.