Poundstretcher staff to be rewarded with 10% pay rise
Poundstretcher is give all employees who have completed a full year’s service a 10% pay rise in recognition of their hard work during the Covid-19 pandemic and its restructuring period.
The discount chain entered a Company Voluntary Arrangement in 2020.
More than the rise in the National Minimum Wage that will be implemented from April, the increase will take effect from January.
Poundstretcher has opened 47 new stores across the UK over the last 12 months and is planning to launch a further 50 stores in the next year. New stores have recently been opened in Derby, Erdington, Poole, Truro and Northern Ireland.
Aziz Tayub, co-owner and chief executive of Poundstretcher, said: “We are proud and inspired by the way our company has risen to every challenge, from our CVA to the pandemic, with resilience, courage and a caring attitude.
“We really value the excellent contribution that all of our employees have made over the last year to maintain business continuity and ensure we are in a position to achieve further growth, and as such have decided to reward our staff to show our deep appreciation for their ongoing hard work.”
Established in 1981, Poundstretcher has 365 stores across the UK.
