Poundstretcher announced that it would give a 10% pay rise to nearly 4,000 employees, effective from April 1

The pay rise will cover 70% of the retailer’s workforce including customer-facing staff and employees with more than one year’s service. The retailer has yet to respond to what the pay rise will mean for its staff’s hourly pay rate. 

Poundstretcher owner Aziz Tayub said: “This 10% pay raise will make a real difference in this current climate to the majority of our employees who are committed to servicing our customers and growing our business in the current economic climate.”

Last year, the variety discount retailer implemented a 10% pay rise after a profitable run following a successful company voluntary arrangement (CVA).

In 2020, Poundstretcher launched a CVA to restructure its struggling business and UK store portfolio. Since then, the retailer has reported an increase in profitability and aims to generate over 2,000 jobs as a part of its five-year growth plan.

Tayub added: “This will be the second year in a row we have introduced a second pay rise in the same year for our store colleagues. We wanted to do more to support them and to say thank you for their commitment to quality service and customer care.”