The One Below store will open at Westgate Retail Park, creating 20 local jobs.
One Below has been launched by Wakefield father and son entrepreneurs, Chris Edwards Senior and Christopher Edwards with plans to open 50 stores this year in total across the UK.
The new independent chain will be the first discount store in the UK to sell everything for £1 and under including a wide range of brands.
To mark One Below’s launch on Saturday, March 16, at 10am, goody bags filled with a selection of exciting items, will be gifted to the first 50 customers.
One Below will sell over 5,000 products, retailing at £1 or less with prices starting at as little as 29p. The store will stock a wide range of items across 10 departments including groceries, home, health and beauty, baby care, toy, DIY, partyware, craft and gardening.
Father and son, Chris Edwards Senior and Christopher Edwards were the original founders of former high street retailer, Poundworld Retail Limited, before it was sold to American private equity conglomerate, TPG Capital in 2014.
All Poundworld stores shut last year.
As well as recruiting locals in a mixture of full and part-time positions in management and sales roles for stores, One Below has taken a 160,000 square foot distribution centre in Barnsley recruiting 50 head office and warehouse staff.
It has already launched three stores in Yorkshire at Doncaster Market Place, Leeds Kirkstall Road and Rothwell High Street.
Christopher Edwards said: “We’re proud to be launching our new retail concept in our home town of Wakefield.
“We’re also delighted to be able to employ many of the former Poundworld staff, who were some of the 6,000 employees to have lost their jobs when the new owners of the business, TPG Capital, sent the business in to administration in 2018."