Don’t know what this will mean to us, hopefully that Poundland stores drop their prices by a penny! Also, the stores could potentially increase their inventory, so more of the branded bargains at Poundland, and more home grown bargain brands at 99p stores.
Here’s the official blurb for you: “The proposed transaction includes 251 branches under the 99p Stores and Family Bargains brands, which serve more than two million customers per week.
Poundland Group has signed a conditional sale and purchase agreement to acquire the Northampton-headquartered group for a cash consideration of £47.5m. Upon completion, the retailer will also issue new Poundland shares worth £7.5m.As well as 251 99p Stores and Family Bargains shops, the deal includes 99p Stores’ warehouse and distribution centre.Poundland chief executive Jim McCarthy said the combined group will provide better choice…
