B&M eyes Poundland stores as discount chain sale process gathers pace, Sky News reports

By Reuters News

Oct 19 (Reuters) - Discount retailer B&M BMEB.L is seeking to acquire a small number of stores from rival Poundland as part of any break-up of the struggling chain, Sky News reported on Sunday.

  • B&M is participating in the sale process but is interested in acquiring only a limited number of Poundland stores, the report said

  • Any deal is likely to involve only a "low double-digit" number of outlets, according to a person familiar with the matter cited by Sky News

  • Poundland, which operates nearly 600 stores, is exploring a sale or break-up, with owner Gordon Brothers recently appointing restructuring specialists to oversee the process

  • At least two solvent bids have been submitted, including one from Ireland's Martin Property Group, which is favoured by Poundland's management team

  • Poundland's UK and Irish businesses could be sold separately as part of the process, the report added

  • Supermarket chain Lidl and retailers the Range and Poundstretcher are also interested in acquiring some stores, Sky reported

  • B&M and Gordon Brothers did not immediately respond to Reuters requests for comment

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