Poundland taken over in £597m deal

Poundland, the discount shop franchise that has stores right across Sussex, has accepted a takeover offer from South African retailer Steinhoff International.
PoundlandPoundland
Poundland

The deal is reportedly worth £597m and comes after Steinhoff - the owner of UK furniture firm Harveys and Bensons For Beds - recently lost out in a battle with Sainsbury’s to buy Argos owner Home Retail Group.

Poundland has around 18,000 staff across more than 900 stores, including a dozen in Sussex, and has its headquarters in Willenhall, near Wolverhampton.

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Steinhoff is reported to have said that it has no plans to change the group’s head office or employment conditions for staff.

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