Mon, 28 Mar 2011 | BUSINESS SALE
The discount retailer 99p Stores may be put up for sale with a price tag of up to £80m, netting its entrepreneur founder Nadir Lalani a fortune.
According to a report by the Sunday Telegraph, Lalani’s family, who own half the company, and Barclays Ventures, who own 25 per cent, have appointed DC Advisory Partners to carry out a strategic review. This could very well lead to the business being put up for sale. The balance of the shares in the business are held by private investors.
Analysts suggest that a price of between £60m and £80m would not be out of the question. The latest filed accounts for 99p Stores to 31 Jan 2010 show a turnover of £183.5m, a substantial increase of the previous year’s revenue of £113m. Pre-tax profits were £1.79m in the year to 31 Jan, 2010, compared to the previous year’s £333,000.
The business has benefited from the disappearance of Woolworths stores on the nation’s high streets and has further benefited from picking up some of the Woolworths' sites on the cheap. 99p Stores now employs over 3,000 people in 133 shops around the UK.
Established in the early 2000s, the company has been in trading for two decades, starting as a home business and quickly becoming the well-established and reputable enterprise it is today. With 100 different styles and colours on display, the company...
FREEHOLD
The business is a well-established firm of catering butchers, operating in the North West of England. This business was established 30 years ago and has been owned by the current owner for twelve years in which time it has thrived, retained and built...
FREEHOLD
This well respected business opportunity has been under our clients ownership for a number of years, building up an excellent reputation and regular client base. The business has now come to the open market due to our clients desire to pursue other b...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.