UK: 99p Stores for sale at the slightly higher price of £60 million
The chain grew from one store in Holloway to around 150 stores across the UK. It spread as a result of rapid expansion in the face of closing Wooolworths stores in 2008.
The stores have performed excellently as consumers have sought cheaper goods as they have felt the squeeze on their incomes. It is a trend that has also seen much success for rival chain, Poundland.
Initially the Lalani family, owners of 99p Stores, wanted 80 million for the chain, but now understand that 50-60 million is the realistic value.
Source: www.google.com
