Ireland's newest discount retailer announces 210 new jobs for the south east

Wednesday, 21st September 2011

Ireland's newest discount chain, who last week opened its first store in the heart of Dublin to snaking queues - has immediately announced for the first time details of a further SEVEN store openings in the next 12 months in the South East, an area deeply affected by the loss of 575 Jobs at the Talk Talk company in Waterford. They will be in Waterford, Gorey, Clonmel, Dungarvan, Carlow, Wexford and Kilkenny and create 210 jobs over the next 12 months.

The retail chain - discount retailer  Euro 50 Stores – is part of the 99p Stores Group, which has 150 branches in its portfolio and today also announces its massive expansion plans are being backed by Barclays Corporate.

The value retail chain is being hailed as a "fantastic success story" by Barclays Corporate, who are extending to the retailer banking facilities of over £20m to help support its massive expansion in Ireland which will see many new stores opening in the next few years as well as the UK and Europe.

The expansion plans will see the Group double in size within the next four years, leading to the creation of thousands of new jobs, many of these in Ireland.

Glen McDonald, Relationship Director in Barclays Corporate's Retail and Wholesale team, says:

"The 99p Stores Group is a fantastic success story in what is a very challenging environment for retailers.

"The management's ambitious growth plans to double the business size and expand overseas are testament to their success and will ultimately create many new and much-needed jobs."

Nadir Lalani, Chief Executive Officer of 99p Stores Limited, says: "I am excited about moving to Barclays Corporate and look forward to working with them in the future as we continue to expand our businesses"  

Faisal Lalani, Managing Director of Euro 50 Stores, says: "We are thrilled to have opened our very first new 'Euro 50 Stores' branch in Dublin and to announce details of our planned new stores in the South East of Ireland which I hope will give a much needed boost to employment in the area.

We are also committed to using Irish suppliers throughout our expansion programme and hope to provide new opportunities for Irish suppliers through our existing UK store network".

"We will have more than 4,000 different product lines, many of which will change weekly, so there is always something new every time customers visit."

The new 'Euro 50 Stores' chain sees items at €1.50 cents or less.

The seven new stores will see the creation of 210 new jobs in the South East, with more new jobs being created with further stores being planned for opening all over Ireland in the next 12 months.

Over the next three years there will be the creation of over 1,500 jobs in Ireland.

The new stores will see departments from babywear to biscuits ; cosmetics to chilled products ; minerals, sweets and crisps ; hot drinks to DIY; food to fashion ; greeting cards to gifts ; pet-care to party-wear and stationery. The stores will also stock hundreds of themed products like Halloween and Christmas lines.

More than 70% of products will be well known leading household brands such as Colgate, Disney, Johnson's, Nivea, Palmolive, Pringles and Radox.