NEWS

Poundworld’s founder to leave company

Published on: 3rd March 2016

Founder Chris Edwards is stepping down from his role. 

poundworldChris Edwards grew Poundworld from its humble beginnings as a market stall in Wakefield in 1974, and now has 310 stores across the UK. He will hand the reins to Gerry Gray later this year, who until recently has been Tesco’s UK operations director.

Poundworld’s operating profits rose by 130% to £14.6m last year, following 12 months of record trading. In 2015 alone, the retailer opened 35 new stores as well as a new 500,000 sq ft warehouse to improve its operational capabilities.

Both Chris Edwards and his son, Chris Edwards junior, became multimillionaires overnight when they sold a stake to private equity firm TPG for £150m last May.

RECENT ARTICLES

Maxi Toys acquired by King Jouet

Rubies and Bristol Novelty to merge

DreamToys transitions to digital event

Intu Trafford Centre up for auction

Basic Fun’s Pound Puppies partner with Dogs Trust

The London Toy Company teams up with Wow! Stuff for new release

New York Comic Con

New York Comic Con moves to virtual event

AsmoFair

Asmodee set to launch virtual AsmoFair

Exclusive: NPD looks at the UK toy market in recent months

Be part of the October Licensing Special issue of Toy World