...instore

Last updated

...instore
Company type Retail
Founded2003;21 years ago (2003)
Defunct2009;15 years ago (2009)
FateAbsorbed into Poundstretcher
Headquarters Huddersfield, England, United Kingdom
Number of employees
5,000
Headquarters and distribution centre in Huddersfield Instore-huddersfield.jpg
Headquarters and distribution centre in Huddersfield

...instore was a chain of retail stores in the United Kingdom, selling a range of products and principally concentrating on value homeware items.

Contents

The company was headquartered in Huddersfield, West Yorkshire but did not have a store in the town: the nearest was 5 miles (8.0 km) away at Ravensthorpe Shopping Park, Dewsbury. The company had over 5,000 employees.

Instore plc's corporate history

Instore, Leeds. Instore - Crown Point Retail Park - geograph.org.uk - 1145739.jpg
Instore, Leeds.

Instore plc, formerly Brown & Jackson plc, was the parent company of "...instore", operating 340 stores across the United Kingdom, also including Poundstretcher and Ponden Mill branded sites. [1]

The ...instore name was created as part of a major rebranding of the existing, value led Poundstretcher business that had been trading since 1981. In September 2002, the company concluded a programme of rebranding half its Poundstretcher stores as "...instore" in an attempt to reposition the business as a more mid market retailer.

Trading subsidiaries What Everyone Wants, Your More Stores and the Famous Brunswick Shoe Warehouse were also disposed of at this time. In 2004 Brown & Jackson sold its Polish retail business, which operated since 1999, to South African Pepkor. [2] In July 2005 the company adopted the name of Instore plc, replacing the previous Brown & Jackson plc name. [3]

In 2006, a new chief executive concluded that the rebranding was not working and from 2007, new stores were opened as Poundstretcher stores. In January 2008, the company acquired 33 Ponden Mill stores under license from the administrators of the company, along with some rights to the Coloroll brand.[ citation needed ]

The company continued to operate both ...instore and Poundstretcher brands, but as of 2009, has reverted its core estate to the Poundstretcher brand.

Poundstretcher

Established in 1981 by Paul Appell and Stephen Fearnley, Poundstretcher had grown to a business consisting of 338 stores by 2004. Roughly half of the stores were converted to the ...instore format by the end of 2002, and the Poundstretcher business began to marketed jointly with ...instore outlets, sharing the same offers and slogan. By 2009, the company had deemed the rebranding exercise a failure, and ...instore shops were expected to revert to the Poundstretcher fascia.[ citation needed ]

A new Poundstretcher Extra format was developed for larger stores.

After selling Poundstretcher, Paul Appell and Stephen Fearnley became involved in a failing retail business, United News Shops, which they managed to revitalise. Growing to become the largest convenience store and cafeteria business servicing British hospitals, United News Shops was sold to WH Smith in March 2008.[ citation needed ]

Profit warnings

During December 2006, the company issued a warning that its profits for the year would be likely to be well below expectations. This was blamed on difficulties experienced at the Huddersfield distribution centre following the introduction of a new software system and poor trading conditions. [4] The company later reported that it was making progress in overcoming the problems it had experienced, and that sales growth for the six week period ending 13 January 2007 was 4.6%. [5]

In May 2007, Peter Burdon, former chief executive of Thorntons, was installed as chief executive. [6] In July 2008, the company rejected a £11.4 million cash offer for the business, arguing that the chain is being undervalued. The bid was made by Seaham Investments, who already control 30.6% of the company. [7] In January 2009, a trading notice issued following the Christmas trading period was of a disappointment to the company, in which they said sales were not as expected.

Later in the month, the final year periods profits were announced at a £4 to 5 million pound loss.[ citation needed ]

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References

  1. ↑ ""...instore" company info". Archived from the original on 17 April 2006. Retrieved 3 February 2007.
  2. ↑ "Chcą podbić nasz region - Archiwum Rzeczpospolitej". archiwum.rp.pl. Retrieved 12 October 2020.
  3. ↑ "...instore jobs and careers". Archived from the original on 22 November 2005. Retrieved 3 February 2007.
  4. ↑ "Bargain retailer warns on profits". BBC News Online. 21 December 2006.
  5. ↑ "Instore reveals sales recovery". Hemscott. 17 January 2007.
  6. ↑ "Interim Report 2007" (PDF). Instore plc. October 2007. Archived from the original (PDF) on 27 November 2007.
  7. ↑ "The Appointment magazine is now online". Archived from the original on 4 October 2011. Retrieved 18 July 2008.
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