THE GOLDEN ALDI

Sunday Mirror, Jun 29, 2008 by STEPHEN HAYWARD

BUDGET store chain Aldi have pledged to open a new branch every week as they cash in on the credit crunch.

The German firm's UK boss unveiled the expansion plan as new figures show soaring numbers of hard-up families are defecting to discount chains.

The growing popularity of Aldi and Lidl is already making a dent in the pounds 120billion-a-year sales of heavyweights Tesco, Asda, Sainsbury's and Morrisons.

Aldi's sales have jumped 21 per cent in a year while takings at Lidl, also German, rose 13 per cent. Aldi are now working on opening 227 stores and aim eventually to have 1,500 in Britain, spending pounds 1.5 billion over the next five years.

Boss Paul Foley said: "In Germany discounters have more than 40 per cent of the market.

"I can't think of any reason why that would not happen here.

"The credit crunch is an opportunity for us because more people will think about shopping with us - but we would be growing anyway.

"If you have the best products it is impossible to fail."

s.hayward@sundaymirror.co.uk