Home Bargains has taken control of rival Quality Save, it has been revealed.
Quality Save was founded in 1974 by Bob Rudkin on a market stall in Walkden and a small store in Farnworth while TJ Morris, which trades as Home Bargains, was set up more than 40 years ago by Tom Morris.
It has also been confirmed that Richard Rudkin, Diane Rudkin and Paul Rudkin have all stepped down as directors of Quality Save.
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According to its most recently-available set of accounts, the company posted a loss of more than £64,000 for the 12 months to the end of March 31, 2021, compared to a profit of £1.3m in the prior year.
However its turnover increased from £66.7m to more than £70m over the same period.
Paul Roland, Home Bargains' operations director, has joined the Quality Save board following the deal.
After opening its first store in Liverpool, Home Bargains has grown to operate over 500 shops and employ more than 27,000 staff.
The company has previously stated its plans to grow to 1,000 stores, employing over 40,000 staff.
In its most recently-available accounts, the retailer's turnover increased from £2.7bn to £3.3bn in the 12 months to June 30, 2021.
Its pre-tax profits also increased from £262.7m to £396.7m over the same period.
In November 2022, BusinessLive reported that the brother of the billionaire founder of Home Bargains had quit the company after more than two decades.
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