Poundland Plans Growth in Midst of Takeover
The discount retailer, Dealz plans to open 20 new shops in Ireland in the next year even though profits are at a low at Poundland.
Managers of the business state that around 300,000 customers shop at their stores each week. They plan to open these stores mainly in the Republic of Ireland on top of the other 53 locations they already have.
In the midst of this growth, Poundland is in the middle of a potential takeover by Steinhoff, in South Africa. Steinhoff has already purchased 23% of Poundland and there is talk of a full takeover. At the moment, Poundland’s shareholders have been told not to act on any bid.
Steinhoff has until July 13 to announce their intention to make a bid for Poundland .