Instore, which also trades as Poundstretcher, has appointed Aziz Tyub as its new chief executive.

Tayub, who has been on the board since July 2007 as non-executive director, replaces Peter Burdon who has resigned.

Instore chairman John Jackson said: "I am very pleased to announce the appointment of Aziz Tayub. Having worked with Aziz as a fellow non-executive director since his appointment to the board, I know his involvement in the day to day operation of the business will be pivotal to its turnaround.”

He added: “At the same time, I would like to thank Peter Burdon for his contribution to the business since joining as chief executive in May 2007, and particularly for helping guide Instore through a significant period of change. On behalf of the Board, I wish Peter every success for the future."

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