Poundstretcher stores giving away £10 vouchers every hour to ‘celebrate new ownership’

Poundstretcher stores are to hand out £10 vouchers every hour in a ‘mega weekend event’ to celebrate the discount chain’s recent change of ownership. 

From Friday 2 August until Sunday 4 August, the retailer’s 350-plus stores will each randomly select a customer per hour to receive a voucher, using the in-store radio system to announce the prize.

The campaign is highlighting changes since US investment firm Fortress acquired Poundstretcher in April, including the introduction of more than 500 big brands, such as Coca Cola, Walkers Crisps, Cadbury, Radox, Listerine, Surf, Pedigree and Felix.

There have also been more than 800 permanent price cuts across categories including household and cleaning, DIY, health & beauty, storage and reading glasses, according to the variety discounter. 

“Under new ownership and new leadership, Poundstretcher is changing fast,” said the chain’s CEO Andy Atkinson.

“Whilst we’re just getting started, the feedback from customers on our price cuts and new brands has been great

“The continued cost of living crisis has been difficult for households up and down the country, so I’m pleased we’re helping our customers to save money, and I’m happy to see more and more of them shopping with us every week.

Read more: Can Fortress unlock the potential within Poundstretcher?

“To mark the start of this new journey, we’re giving away tens of thousands of pounds’ worth of vouchers across the country.”

Fortress also own Majestic Wine, Vagabond Wines, and Punch Pubs Group, and was outbid for Morrisons by Clayton Dubilier & Rice in 2021.

Atkinson, a former Morrisons group commercial director, was appointed Poundstretcher CEO as one of Fortress’ first moves in April. He took over from former Poundstretcher owner Aziz Tayub, who had controlled the chain since 2008. 

Poundstretcher said the new leadership was listening carefully to customers and staff, and responding quickly to ideas and suggestions. 

Other changes have included pricing hundreds of lines at 99p and introducing a monthly leaflet highlighting price cuts and deals. 

This weekend’s £10 voucher campaign follows a similar event in stores last weekend, from 26-28 July. 

The retailer has also been offering a £2.50 discount on a £15 shop in a simultaneous voucher campaign promoted on social media. Shoppers could claim the discount in any of Poundstretcher’s stores from 24-28 July using a voucher posted on the discount chain’s Facebook page.