Discount retailer B&M has reportedly joined other retailers in expressing interest in acquiring select Poundland stores. This comes as Poundland's Boston-based owner, Gordon Brothers, is pursuing a sale of the company.
London-listed B&M European Value Retail is interested in a small number of Poundland stores, should the retailer be broken up if a buyer for the entire company is not found. B&M could face competition from budget supermarket Lidl, which reportedly bid for a single Poundland shop last week and hopes to acquire more if a break-up occurs.
Other retailers understood to be interested in acquiring some Poundland stores include The Range and Poundstretcher. While Aldi and Home Bargains were reported to be considering the sale, neither has submitted a formal bid.
Beyond retailers eyeing individual sites, several investment groups have submitted bids for the entire Poundland business. Poundland's management has expressed a preference for the offer tabled by Irish firm Martin Property Group.
Gordon Brothers initiated the sale process last month, a little over a year after acquiring Poundland from PepCo for a nominal £1 fee. Restructuring experts have been brought in to review bids, aiming to secure a sale before the pre-Christmas trading period begins.