Partly Cloudy

Partly Cloudy

max temp: 19°C

min temp: 14°C

Search

East Anglia: QD Stores acquires discount retail chain Thingmebobs

PUBLISHED: 15:59 08 January 2013 | UPDATED: 16:03 08 January 2013

QD Stores has expanded with the acquisition of the Thingmebobs discount chain

QD Stores has expanded with the acquisition of the Thingmebobs discount chain

Archant

EAST Anglian-based value retailer QD Stores has expanded its high street presence with the acquisition of discount chain Thingmebobs.

The deal, the value of which has not been disclosed, follows a record-breaking Christmas trading period for QD, with like-for-like sales growing by 8.2% on the previous year.

Thingmebobs, which has annual turnover of about £6.5million, is based at Ingham, near Bury St Edmunds, and operates 10 stores, in towns including Bury, Sudbury, Newmarket, Haverhill and Felixstowe in Suffolk, Clacton and Halstead in Essex, Attleborough in Norfolk and Ely and March in Cambridgeshire.

The stores will continue to operate under the Thingmebobs brand, with no redundancies planned among the company’s 100-plus staff. Co-founder Colin Lawrence will take on a senior management role within QD.

QD Stores group managing director Justin Farrington Smith said: “This deal takes our group into market towns we have long aspired to attain a presence in.

“Thingmebobs offers quality, value products from established outlets staffed by a committed, long-serving workforce, making this acquisition a natural fit with tremendous mutual synergy.”

The acquisition boosts Norwich-based QD Stores’ network to a total of 49 outlets. Besides its QD-branded stores, it operates the Cherry Lane Garden Centre chain and Lathams of Potter Heigham.

Although main located in East Anglia and the Home Counties, it has stores as far north as Doncaster and west as far to Wrexham.

The company’s Christmas trading figures included like-for-like sales growth of 16.6% for decorations, novelties and lights, 33.3% for toys, 20.8% for menswear, 26.4% for groceries, 43.9% for cleaning products and toiletries and 26.4% for plants and seeds.

The acquisition of Thingmebobs follows on from expansion during 2012 which included the addition of three more garden centre sites and the joint redevelopment of its former Buyright site in Hadleigh to create a new 20,000 sq ft QD store, which is already trading, and a Morrisons supermarket, which is due to open next week.

Search hundreds of local jobs at Jobs24

Comments have been disabled on this article.

Leisure airline Jet2.com has added further to its Stansted schedule for summer 2018, with three new routes and extra flights to nine other destinations.

A trade mission aimed at building links between the South West and the East has been hailed a success.

The deregulation of the English water market has allowed Anglian Water to secure an exclusive contract with Pure Gym, the UK’s largest private gym provider.

Thousands of workers who paid “unconstitutional” fees to take their employers to tribunal could be in line for a £27m refund.

Frequent power cuts have been reported in Framlingham over recent days – including several in a short space of time this afternoon.

Management Jobs

Show Job Lists

Most read

Topic pages

Newsletter Sign Up

Sign up to the following newsletters:

Sign up to receive our regular email newsletter
MyDate24 MyPhotos24