The founder of the now defunct Poundworld chain is to reopen his former discount store in Chester’s Forum shopping centre as another pound shop.

Chris Edwards is creating a new chain of pound shops called OneBelow, where everything costs £1 or less with plans revealed for the first seven stores.

Rob Monaghan, market development manager at Cheshire West and Chester Council , confirmed a deal was about to be signed for the company to secure the empty unit last occupied by Poundworld shop in The Forum.

He said: “They are buying back a number of stores that they think are viable. It’s pretty much there and we’re hoping it will be open mid March. It will be similar to what was there before – low cost items.” 

This is good news for the forlorn shopping centre, which will eventually be demolished as part of the Northgate Development.   

Poundworld in Foregate Street, Chester, closed in July, 2018.

The first branch of OneBelow is due to open in Leeds at the end of February with plans to launch stores in Bradford, Wakefield, Glasgow, Irvine and two in London by the end of March.

Poundworld had its origins in a Wakefield market stall set up by company founder Chris Edwards back in 1974 who ran the business with son Chris Edwards junior.

Private equity firm TPG Capital bought a majority stake in the business for £150 million in 2015 with the family still retaining a substantial minority holding.

At its height the enterprise operated 355 stores including two in Chester, at The Forum and on Foregate Street, but both closed last year when the company went into administration and no buyer was found.

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