Lidl to invest £500m to support plans for 40 new stores

Lidl has revealed plans to invest £500 million as the discount supermarket chain accelerates its expansion across the UK.

The German-owned chain is pushing forward with plans to open more than 40 new stores in the current financial year.

Bosses at Lidl GB said recent UK Government planning reforms are helping to “remove barriers to development” and support its growth ambitions.

The retailer, which has more than 980 stores and 14 distribution centres in England, Scotland and Wales, also published a lengthy list of locations for potential new stores on Monday.

It said it is considering hundreds of potential locations for new stores, with these including high street, retail park, and mixed-use town centre sites.

The investment and store opening plans represent an acceleration in growth for the brand, having opened 23 over the previous financial year.

Lidl is currently the UK’s fastest growing supermarket chain, according to industry data.

Figures from Kantar earlier this month, suggested that Lidl sales rose by 9.1% over the 12 weeks to March 24.

This has seen it take a 7.8% share in the UK grocery market and move closer to overtaking Morrisons, which is currently the UK’s fifth largest supermarket chain.

Richard Taylor, chief real estate officer at Lidl GB, said: “This level of investment is a clear sign of our ambition.

“As we enter our fourth decade in Great Britain and hurtle towards 1,000 stores, there are still so many parts of the country crying out for convenient access to a Lidl store.

“That’s why we welcome the measures proposed in the Government’s Planning and Infrastructure Bill – they recognise the urgent need to remove barriers to development and support the kind of growth we at Lidl are working towards.

“New Lidl stores mean new jobs, new opportunities for British suppliers, and continued investment into local economies.”