The owner of the Poundstretcher discount chain has told BusinessLive that he wants to float the business this year – and bring in money for further growth.
Aziz Tayub said he hoped an IPO – Initial Public Offering – would go ahead in 2023, assuming economic conditions stabilise. Even in the worst case scenario, he said it would go ahead next year, estimating the value of the discount retailer at £250-£300 million.
A flotation, he said, would help with Poundstretcher's plans to open 50 new stores every year and take a bigger share of the discount food and homewares market. The business currently has around 350 stores and its 800,000 sq ft warehouse in west Leicestershire has capacity to supply 600.
