Stelios to open first super-cheap supermarket in Croydon, EasyFoodstore

EasyGroup founder Sir Stelios Haji-Ioannou is launching a new food store that he hopes will be cheaper than Aldi and Lidl. The first outlet will be in Croydon.

Haji-Ioannou said the rise of food banks in the UK had prompted the move. He said the new EasyGroup attempt will be a “low-risk experiment in a new market sector”, but could be expanded as early as next year if it’s successful.

“If the pilot site shows there is a need for this offering, EasyFoodstore could be rolled out on a wider basis from 2014 onwards using freehold retail sites – buying into the weaker real estate prices in that sector,” he said.

EasyFoodstore will offer “affordable, basic ‘no-brand-name’ packet and tinned foods at bargain prices,” Haji-Ioannou said.

“EasyFoodstore underlines the need for additional reliable day-to-day provision of basic foodstuffs. No other details have yet been decided.”

The first EasyFoodstore outlet is expected to be on the ground floor of the nine-storey Croydon building that used to be the Metlife building. It was recently acquired by EasyGroup. The tower block is expected to house an EasyHotel and EasyGym too.

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