Primark to invest 140 million pounds in its UK store portfolio

Affordable fashion chain Primark is upgrading its UK retail portfolio, stating it will invest 140 million pounds over the next two years.

The Dublin-based company said it would open at least four new stores in Bury St Edmunds, Craigavon, Salisbury and Teesside Park in addition to planned upgrades and refurbishments across its UK stores. Upgrading its retail spaces will include improvements such as new fixtures, lighting and updating its décor.

Creation of 850 new jobs as a result of new store openings and extensions

The investment creates at least 850 new jobs and increases selling space by more than 160,000sq ft, in a boost to local shopping areas, Primark said in a press release.

Paul Marchant, Chief Executive at Primark, said: “The UK is our biggest market and, as we continue to grow and expand our business internationally, we remain as committed as ever to investing in our stores to offer more customers our great value clothing, beauty, homewares and much more. Busy towns and cities benefit us all – we want to see thriving high streets and shopping centres where people come together and enjoy spending time. Through today’s investment, we’re playing a part in ensuring that UK retail continues to grow and thrive and give people another reason to visit their local high street.”

In 2023 Primark will celebrate the 50th anniversary of opening of its first store in England, in Derby in 1973. The company continues to accelerate its pace of international expansion, opening 27 new stores and an additional 1 million sq ft of new selling space this financial year, in line with its aim of reaching 530 stores by 2026.