99p Stores to double in size

Discount chain, 99p stores is to take further advantage of the flight to discounting by opening new stores.

Due to a secured £20 million extended banking facility with Barclays Corporate the discount retailer will use this Barclays facility to open between 40-50 new stores a year, the first of which have already opened in Letchworth, Stowmarket, Swindon, Weston-Super-Mare, Yeovil, Bishops Stortford and Colchester.

The company yesterday opened its first Irish store in Dublin, calling the format €uro 50. A second store in Balbriggan later this month will follow with a further 20 shops opening up to Ireland during the next 12 months.

Nadir Lalani, Chief Executive Officer, 99p Stores Limited says that it will beat Poundland to the punch in Ireland. 99p Stores has risen on the back of the demise of Woolworths.