MaxiSaver Store in Eastwood Shuts Down Permanently
A discount store in Eastwood, Nottinghamshire, which has been compared to Poundstretcher, has closed down another store, dealing a blow to budget-conscious shoppers. The MaxiSaver store on Nottingham Road closed its doors for good on December 31, leaving a note behind to thank loyal customers. The notice directed customers to find their nearest store or shop online using the chain's website.
MaxiSaver: A New Name in Convenience Shopping
MaxiSaver describes itself as a "new name in convenience shopping" and is known for offering well-branded stock at affordable prices. The store offers a wide range of products, including food and drink, household items, cleaning products, pet gear, stationery, beauty products, leisure items, garden supplies, and seasonal and health products. Prices range from 29p to £59.99, reflecting the brand's focus on the budget market.
Competition with Poundstretcher
Poundstretcher has been MaxiSaver's closest rival, with prices that can range between 15p and £90. Despite plans to rival Poundstretcher, MaxiSaver has faced its own challenges, closing other stores recently. Eastwood was the last remaining MaxiSaver store in Nottinghamshire, following the closure of Newark's MaxiSaver in February 2022 and the closure of the Mansfield store.
Financial Difficulties for Poundstretcher
Poundstretcher has also faced financial difficulties, with 17 stores being shut and over 1,000 retail staff being cut in March 2022. The company's profits had halved, but it continued to push for aggressive expansion. In July 2020, Poundstretcher entered a legal arrangement to restructure the business and continue trading, which involved closing 500 branches and paying off a significant portion of its debt.
Currently, Poundstretcher operates over 350 stores, according to its website.
Did you miss our previous article…
https://hellofaread.com/money/woman-discovers-huge-sales-at-sainsburys-no-longer-needs-to-shop-at-hm-or-zara-home/
