// Poundstretcher has hired advisors to look at a potential stock market float
// It is not yet clear if the retailer would float on the primary market of the London Stock Exchange or its junior market, AIM
According to City insiders, Poundstretcher is considering a stock market float.
The discount retailer is understood to have hired advisers to look at listing in London after its sales boomed during Covid, This is Money reports.
It is not yet clear if Poundstretcher would float on the primary market of the London Stock Exchange or its junior market, AIM.
In February, the business announced plans to open 50 new stores across the UK this year.
It had approximately 350 branches at the start of the year after opening 30 in 2021.
Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your inbox each morning
In January 2021, owner and boss Aziz Tayub was reportedly looking at a sale of the business after a successful restructuring.
At the start of the year, the retailer gave nearly 4,000 employees a 10% pay rise to help cope with cost-of-living pressures.
The business said over 70% of its workforce are eligible for the salary increase which became effective on April 1st.
It was the second year it has given staff a pay increase. It boosted salaries in 2022 by 10% for their hard work which saw a positive turnaround of the retailer’s profits post its CVA.
Click here to sign up to Retail Gazette‘s free daily email newsletter
