Sale likely for 99p Stores

The owners of the 99p Stores chain could be poised to put the business up for sale.

Sale likely for 99p Stores

According to a report in The Telegraph today, DC Advisory Partners has been hired to conduct a strategic review of the company, which is one of Britain’s largest discount retailers.

The deal would be worth between £60m and £80m, and would deliver its founder Nadir Lalani a multi-million pound fortune.

Lalani opened his first 99p Store in north London in 2001, and has since grown the chain to over 130 stores employing 3,000 people. The company turned over £183.5m in its last financial year, and raised pre-tax profit to £1.79m from the previous year’s £333,000.

The company aims to have 600 stores within the next 10 years.

Check Also

Bryan Clover of Rainy Day Trust to hike 84 miles in 48 hours non-stop for charity

In a little over two weeks, I will be starting a non-stop 84-mile hike from …