Poundland: Bensons for Beds owner circles discount chain

Bensons for Beds owner Alteri is among a number of bidders for discount chain Poundland.

The investment company is gearing up to submit an offer for the discount retailer within the coming weeks, Sky News reported. 

Alteri is thought to be among a significant number of suitors circling the discounter, which has been offered for sale by its parent company Pepco Group.

Alteri Investors declined to comment on the matter, according to Sky News.

In March, the owner confirmed that it planned to look into a sale of Poundland, with management consultancy Teneo taken on to advise on an auction.

The group revealed that it was “actively exploring” a sale of the business, as it claimed the UK retail market remained “increasingly challenging” with additional tax changes from April set to impact the its cost base.

Pepco said Poundland had continued its negative like-for-like sales performance during the first two months of the year, with an “underperformance of all categories”.

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