Black Country retailer Poundland has targeted eight former Woolworths stores as part of recession-defying expansion plans.
The Willenhall firm - which sells everything for £1 - recently opened up for business in six former Woolworths stores including in Kings Heath and Stratford-upon-Avon.
Now, it is understood to be considering bids for a further eight stores which were previously under the ownership of the former high street giant.
Mark Roberts, head of store development at Poundland, said the company was looking closely at eight former Woolies locations where it may take the option either on the entire complex or part of it.
He said directors were keen to follow up on the success of recent expansion in the Midlands.
Mr Roberts said: “Last month we opened our Stratford-upon-Avon store which gave us a trading area of 5,600 square feet, which is ideal for Poundland.
“Our retail site in Shakespeare’s town is now regarded as Poundland’s flagship store – not least because several of the directors live there.”
Poundland is wholly-owned by private equity business Advent International and last month it revealed a 47 per cent increase in operating profits, to £11.8 million, for the year ending March 29.
It opened 41 new stores in the 12-month period and said it planned to continue at a similar rate, with the total estate forecast to reach 250 outlets this year, creating 1,200 jobs.
The company, which attracts more than 2.3 million customers to its outlets each week, has taken on more than 150 former Woolworths staff as part of recent expansion.
It has two distribution warehouses in Willenhall and Bilston with a total capacity of 550,000 sq ft.
Chief executive Jim McCarthy said the company is already reaping rewards from recent expansion in the Midlands.
Mr McCarthy said: “The wise shoppers around Stratford are voting with their wallets and purses. Store sales are far exceeding our expectations.
“We are delighted, although we do accept that being the summer season Stratford is likely to have a heavier tourist footfall than some other locations.”
Mr McCarthy continued: “As a former resident of Tiddington Road and Welford, I’ve been in the district for 25 years. I’m delighted we have already established ourselves in Stratford. It means a lot to me.”
Stratford-upon-Avon law firm Lodders acted for the landlord lease deal on the Bridge Street property, which had been occupied by Woolworths for nearly 60 years.
Partner Victor Matts said: “It was a pleasure to work with this company. Its rapid expansion rate at a time of economic recession is welcome news.”
