Iceland is reportedly looking to acquire a limited number of Poundland stores if the discount retailer faces a breakup.<\/p>\n
Poundland, a 600\u2011store chain owned by Boston\u2011based Gordon Brothers, operates over 900 outlets across the UK and holds a 2.2 percent share of the grocery market. The chain has been struggling, prompting its owners to seek a quick sale.<\/p>\n
Gordon Brothers has received several offers for the entire business, but if none meet expectations, the chain could be divided among multiple buyers. Between six and eight retailers have submitted formal bids, ranging from a handful of locations to larger portions of the network.<\/p>\n
Potential buyers include discount giants such as Lidl, which has expressed interest in at least one store and possibly more if a breakup occurs. Other contenders are B&M, The Range, and U.S. competitor Poundstretcher. Martin Property Group, an Irish firm that recently acquired National Car Parks from administration, has emerged as the preferred bidder for the whole operation.<\/p>\n
To ensure a fair process, three mergers and acquisitions experts\u2014Andrew Kirkpatrick, Stephen Welch and Dominic Young\u2014have been appointed to Poundland\u2019s board. They are tasked with reviewing all bids and aiming to conclude a sale before the critical pre\u2011Christmas trading period.<\/p>\n
Despite its challenges, Poundland\u2019s management remains optimistic. The retailer reported a 3.3 percent growth in like\u2011for\u2011like sales over the last three months and projects an earnings increase of roughly \u00a380 million compared with the previous year.<\/p>\n
An Iceland spokesperson said the company consistently evaluates potential new locations as part of its operational strategy, and the current situation has prompted a review of select Poundland sites that could fit Iceland\u2019s expansion plans.<\/p>\n","protected":false},"excerpt":{"rendered":"
Iceland contemplates buying key Poundland outlets amid UK retail shake\u2011up<\/p>\n","protected":false},"author":1,"featured_media":6133,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[61],"tags":[],"class_list":["post-6134","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-united-kingdom"],"_links":{"self":[{"href":"https:\/\/tringlobe.news\/index.php?rest_route=\/wp\/v2\/posts\/6134","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tringlobe.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tringlobe.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tringlobe.news\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tringlobe.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6134"}],"version-history":[{"count":0,"href":"https:\/\/tringlobe.news\/index.php?rest_route=\/wp\/v2\/posts\/6134\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tringlobe.news\/index.php?rest_route=\/wp\/v2\/media\/6133"}],"wp:attachment":[{"href":"https:\/\/tringlobe.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tringlobe.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6134"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tringlobe.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}