Following a couple of years of economic instability and inflation, Pound Wholesale can announce that we have seen a reduction in costs, and have passed on further savings wherever possible for our customers by reducing product prices.
It is anticipated that the UK Economy will suffer more than any other leading nation from the global energy crisis. Out of the G7 group, which includes the UK, US, Canada, France, Germany, Italy and Japan, only UK and German economies are expected to shrink.
Following the return to Parliament after the death of Queen Elizabeth II, the newly-formed Government led by Prime Minister Liz Truss launched what has been described as a ‘mini budget’, a fiscal event designed to boost economic growth in the United Kingdom.
It’s no secret that the UK is currently experiencing irregular inflation due to a variety of factors. Beginning with Brexit and the Covid-19 Pandemic, and with the current situation in Ukraine, our industry has faced unprecedented difficulties particularly over the last couple of years. The situation is becoming so severe that we feel it’s right to update all our customers.
Frozen food specialist Iceland has agreed a deal in principle to take control of 19 empty Poundworld stores after the discount retailer fell into administration in June after struggling to find a buyer.
Data from the Office for National Statistics has showed that GDP growth had doubled in the second quarter of 2018, hitting 0.4% in the three months running up until the end of June.
Out of all UK regions in 2017, the highest public spending per person was in Northern Ireland once again, according to experimental data from the Office for National Statistics.
Deloitte, administrators of Poundworld, have confirmed that 1,024 jobs are set to be lost as another 80 stores will soon be closed, meaning 105 of the company’s 355 shops will be shut.
Poundworld could be facing administration as its private equity owner struggles to find a rescue buyer and is not expected to continue funding the chain, putting 5,000 jobs at risk.
A leading economic expert has forecasted economic growth in the UK after a lull in 2017, with a global economic boom likely to outweigh the impact from the UK’s decision to leave the European Union.
