Phones 4U creates 300 jobs with £50m investment

The Caudwell Group, the privately owned mobile phone company behind the Phones 4U chain, is investing £50m in Wales as part of an expansion programme that is expected to create up to 300 jobs.

The Caudwell Group, the privately owned mobile phone company behind the Phones 4U chain, is investing £50m in Wales as part of an expansion programme that is expected to create up to 300 jobs.

The announcement came as the Caudwell Group opened its 200th UK store in Cardiff. Around 25 more stores are set to be opened in Wales over the next two years.

John Caudwell, the entrepreneur who runs the group, said he planned to have 250 stores in the UK by Christmas with a medium-term aim of 300.

Mr Caudwell, who flew himself to Cardiff in his Robinson R44 helicopter, said: "While talk of saturation in the market may well be rife, we are actually gaining more and more customers who see their mobile phone as something they can change or upgrade regularly."

However, he said the trading environment was tough though the group's like-for-like sales are improving. He added that the company had no plans to seek a stock market listing. Mr Caudwell hit the headlines in May when Phones 4U offered graduates starting salaries of £40,000 to £60,000. Yesterday he said the company was now at final interview stage with a group of graduates though he declined to say how many would be appointed.