A BARGAIN chain with 800 stores is set to be sold, placing high street shops at risk.
Poundland has reportedly hired advisory firm Teneo to oversee the sale of popular discount chain, The Telegraph reports.
1
Sources close to the outlet claim loads of Poundland stores could be axed as part of the proposed sale.
A Pepco spokesman told the outlet: “As stated at our capital markets day on March 6, we are actively exploring separation options, including a potential sale, for the Poundland business. We have started to work with advisers to support us with this process.”
It comes after its Polish company Pepco said it was looking at “all strategic options” to separate Poundland from its brand.
The group said it might turn its focus to its more profitable businesses in Europe.
It comes as Pepco said the upcoming hike to employer National Insurance Contributions (NICs) and national minimum wage would significantly add to its costs.
From April, employer NICs will rise from 13.8% to 15%, and the threshold at which they are paid will fall to £5,000 from £9,100.
