Former Asda boss, Andy Bond, has a target of 10 stores by mid 2016.
A new discount variety chain will be launching in the UK next year, the brainchild of former Asda boss, Andy Bond.
The news is sure to interest the licensing community, which has begun to enjoy success in the discount retail sector in stores such as Poundland, Poundstretcher and B&M.
Andy told Retail Week that the new chain would aim to be a one stop shop, selling general merchandise, fashion and ambient grocery.
Two of the stores will be open by March 2016, with a target of 10 by the middle of the year.
It is likely the stores will be around 10,000 square feet in secondary towns.
The as yet unnamed chain is being funded by Christo Wiese’s Pepkor. Wiese previously controlled Poundstretcher before selling his stake in 2009.
