UK: Poundland owner mulls future of retailer

By Dean Best | 12 March 2010

Poundland boss Jim McCarthy has outlined plans for expansion

Poundland boss Jim McCarthy has outlined plans for expansion

The private-equity owner of UK discount retailer Poundland is mulling the future of the business, which could lead to the sale of the company, just-food understands.

Private-equity firm Advent International has appointed advisers to review Poundland's business, which it acquired in 2002.

Advent has appointed the merchant bank Close Brothers to advise on the future of Poundland and a sale of the retailer is among a series of options being considered.

Discount giants Aldi, Lidl and Netto have seen the early buoyant sales growth they enjoyed in late 2008 and early 2009 fade as the UK's largest supermarkets fought hard on price.

However, Poundland has benefited from the demise of Woolworths plc and plans to expand its 250-strong store estate this year.

The private-equity firm declined to comment when contacted by just-food today (12 March).

Sectors: Retail

Companies: Poundland, Aldi, Lidl, Netto

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