Lidl to spend £ 1,3bn in growth of UK store

... Credit :
Shadrach   in Banking & Money

21 February 2020, 11:09 GMT

Budget retailer Lidl has revealed that it will spend £ 1.3bn over the next two years in shop growth across the UK.

The German discounter – which has opened 50 new stores within the last 12 months – said this morning that it's committed to investing in growing its store portfolio in 2021 and 2020.

The new investment announcement came because the grocer revealed it opened its 800th store in Britain today, having opened a complete of 16 new stores since the start of 2020. 

Lidl GB chief executive Christian Hartnagel said:

We’re excited to possess reached this milestone, which simply means we’re bringing affordable, top quality food to even more households across Britain.

I’m pleased with our fantastic teams, from our colleagues performing on the workplace to our colleagues within the warehouse and across our offices, who have driven our expansion efforts round the country. 

We’re looking forward to opening our doors to even more communities this year and into this new decade where we see such a lot potential for further growth.

The expansion plans build up the competition between Lidl – along side its rival discounter Aldi- and therefore the big four UK supermarkets Asda, Morrisons, Sainsbury’s and Tesco. 

The company previously announced it's trying to expand its presence in London and therefore the south east, saying it had ringfenced £500m to widen its presence within the capital.

Lidl has also bolstered its logistics capabilities by opening six warehouses over the last four years.

Meanwhile, Aldi has also announced plans to expand in London, with ambitions to quite double the amount of stores it's within the M25 from 45 to 100 by the top of 2025.