GENERAL MERCHANDISE
Monro to revitalise Poundstretcher
3 July, 2002 | by Retail Bulletin
Ex-Matalan boss joins rival discounter
July 3 2002
Former Matalan chief executive Angus Monro has bought a 10 per cent stake in Brown & Jackson, which operates the Poundstretcher discount chain.
Monro has joined at the invitation of Brown & Jackson chairman Christo Wiese. He will become chief executive of the Poundstretcher chain in September. The other B&J chains, which include What Everybody Wants, Your More Store, and the Famous Brunswick Warehouse, will be transferred to a separate company.
Monro, one of the architects of Matalan’s phenomenal rise in the discount clothing sector, will be looking to repeat the formula with Poundstretcher, which is seen as underperforming.
