A discount shop chain called One Beyond is set to open a new store in Waterlooville, Havant, just in time for Christmas. The budget retail chain, which launched four years ago, currently has 107 stores across the UK. The company sells thousands of products, with many priced at £1. The new store on Dukes Walk in Waterlooville will open on December 15th at 10am.
Expansion Plans and Former Wilko Locations
One Beyond has already taken over two former Wilko branches in Chelmsford and Boston. As part of its expansion plans, the discount retailer aims to acquire up to 10 more Wilko locations, bringing its total number of stores to 125 by spring next year. Chris Edwards, the CEO of One Beyond, expressed excitement about offering their value to more shoppers across the UK.
Wilko's Administration and Store Closures
Wilko fell into administration in August, leaving 400 stores and 12,000 jobs at risk. The retailer was unable to find a buyer for the entire business, resulting in store closures and job losses. However, since then, other retailers have purchased some of the ex-Wilko premises. Poundland owners Pepco have acquired 71 locations, B&M has purchased 51 stores, and The Range has bought the Wilko name and website. The Range has even opened new Wilko stores in Plymouth and Exeter.
The Retail Landscape and Other Store Closures and Openings
The retail industry is facing challenges due to the cost of living crisis, high inflation, and energy costs. Retailers like Poundland, New Look, and Homebase are closing stores, while some banks are also closing branches and moving services online. However, there are retailers like Costco, Bonmarche, and The White Company that are thriving and expanding despite the difficult trading conditions.
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