B&M joins race to acquire stores from struggling Poundland

Summarised from 2 outlets · Updated 19 Oct, 13:07 · Archive

Discount retailer B&M is among firms bidding to acquire selected stores from Poundland as its owner Gordon Brothers seeks a buyer.

Discount retailer B&M has joined the rush to acquire stores from Poundland as its Boston-based owner Gordon Brothers seeks a buyer. B&M European Value Retail is interested in acquiring a small number of Poundland stores should the retailer be broken up if a buyer for the whole company is not found, according to City AM's sources.

B&M will face competition from budget supermarket Lidl for Poundland's best-placed stores. Other retailers understood to be interested in acquiring some stores include The Range and Poundstretcher, which is owned by Fortress Investment Group. Aldi and Home Bargains have been reported to be looking at the sale but neither has submitted a formal bid, City AM understands.

Poundland's management has expressed a preference for an offer tabled by Martin Property Group, the Irish firm which recently bought National Car Parks. Gordon Brothers has parachuted in three restructuring experts to join Poundland's managing director and finance chief to review bids, in the hopes of securing a sale before the crucial pre-Christmas trading period.

How it is being reported

• B&M joins battle to ‘cherry pick’ Poundland stores in saleDiscount retailer B&M has joined the tussle to pick off select Poundland stores as its Boston-based owner Gordon Brothers eyes a rushed sale of the company. London-listed B&M European Value Retail is interested in acquiring a small number of Poundland stores, should the retailer be broken up if a buyer for the whole company is [...]City AM · 19 Oct, 12:49
• Discount retailer B&M plots offer to cherry-pick shops from rival PoundlandB&M European Value Retail, the London-listed discounter, is looking to cherry-pick sites from troubled rival Poundland as it teeters on the brink of administration.Sky News Business · 19 Oct, 09:14

In this story: B&M European Value Retail · Poundland · Gordon Brothers · Lidl · The Range · Poundstretcher · Martin Property Group · Fortress Investment Group

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