THE new boss of Huddersfield-based store chain Instore is having second thoughts about plans to scrap its Poundstretcher name.
Trevor Coates, who succeeded Angus Monro as chief executive, said keeping the well-known Poundstretcher brand could help revive its fortunes.
Instore racked up losses of £3.3m last year, partly due to the costs of setting up its headquarters and distribution centre at Deighton.
Mr Coates admitted that bedding in a new brand took time, but feared customers did not know what Instore represented when compared to Poundstretcher.
Sales figures showed that some of the stores that were converted to Instore were not living up to expectations.
So far, 141 outlets are trading as Instore out of the firm's 300 stores.
Mr Coates added: "Poundstretcher has a great perception with customers and historically has such value for bargains and convenience.
"But it has some negatives, including the conditions of stores, cleanliness and housekeeping."
Mr Coates said there was `an equal chance' the Poundstretcher name would be kept, but it was too early to tell.
Mr Coates said Poundstretcher was a particularly strong brand in Northern Ireland and Scotland.
He said the `strategic direction' of the business would form part of a wide-ranging six-month review that would also consider pricing.
The losses for the year to February 25 compared with profits of £7.5m for the previous 12 months.
Excluding one-off costs, Instore made profits of £3.3m.
Like-for-like sales - excluding ones at new stores - fell by 0.7% last year. But sales revived to rise by 7% since the year-end.
Mr Coates said the company was cautious about the outlook, adding: "This is likely to be a tough year for us and people shouldn't be too optimistic in terms of results."