Business

Clothing chain Pep&Co has 'no plans to open in north'

BUDGET retailer Pep&Co has denied reports it is planning a major expansion into Northern Ireland.

Media reports suggested the clothing chain wanted to open up to 10 outlets across the north.

However, the company was quick to point out Northern Ireland was not included in any expansion plans.

Pep&Co is owned by South African investment company Pepkor which has a portfolio of retail brands across Africa, Asia and Europe.

There are currently 50 Pep&Co stores in Britain with the first opening just three months ago.

But despite that rapid expansion, the chain said that was it as far as new openings would go.

A spokesman for the firm said it had "no plans to open Pep&Co in Northern Ireland in 2016".

"While we don't doubt it's a vibrant market, we have not yet announced any additional locations beyond our initial 50 stores which are now open," he added.

Meanwhile, a source at property consultants Savills, which had been reported as scouting units for the retailer in Northern Ireland said " no approach had been made" about the north.

The launch of Pep&Co has been likened to that of Next which first opened on the UK high street in 1982 and had 70 stores within six months.

Pep&Co in the UK is run by former Asda boss Andy Bond.

The model hopes to imitate in clothing what has been successful in other retail sectors for chains like Lidl and B&M Bargains.