99p Stores In Administration

PLRFD

https://www.thesun.co.uk/money/3187146/poundland-owned-99p-stores-has-fallen-into-administration-with-closure-of-60-shops/

Can't wait for the closing down sale,article also says Brantano went into administration last week.

VfM4meplse

I think this is a little misleading. Where Poundland and the 99p Store existed in close vicinity, it makes little business sense to maintain all stores. In one Essex High Street there were 3 Poundland branches within less than 1/2 mile radius until last month, far too many to justify the overheads. There will be no closing down sale, stock will be subject to interbranch transfer.

It's known as cannibalising the competition. Not that it's any compensation to the staff that will be laid off.

sillygoose

PLRFD wrote: »

https://www.thesun.co.uk/money/3187146/poundland-owned-99p-stores-has-fallen-into-administration-with-closure-of-60-shops/

Can't wait for the closing down sale,article also says Brantano went into administration last week.

I presume the 99p shops were Poundlands 'budget range'?

shame Brantano went down, again. In its good years it was great for lower priced Clarks school shoes. Clarks manage to monopolise its market pretty well and apart from the odd outlet everyone has to charge the same.

cattie

I thought Poundland had taken over the 99p stores about 18 months ago. I know they did in my location & Poundland then moved across the road into the premises that 99p had occupied.

http://www.bbc.co.uk/news/business-34287831