AN ICONIC UK budget shop is set to sell for as little as £1 as the struggling business struggles to keep afloat.
Poundland could sell to bidders for just £1 as firms circle the floundering business.
Bidding for Poundland and its 825 UK stores is expected to begin on Tuesday sources told The Sunday Times.
Turnaround Investors were linked with a bid for Poundland.
These firms specialise in buying up struggling businesses in the hopes of turning them around.
A US based investor, Gordon Brothers, have been said to be the frontrunners in the bidding war.
Bidding on the UK chain is yet to close though with possible other buyers still waiting to appear.
A source told The Sunday Times that Poundland would be priced at “effectively a pound.”
Several interested parties are reportedly looking at bidding on the UK budget retailer.
Poundland is currently owned by the Warsaw-listed retailer Pepco, employs 18,000 people and has 825 shops in the UK.
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