Poundland plans to take over 99p Stores

The 99p Store on South Road, Haywards Heath
The 99p Store on South Road, Haywards Heath

Shoppers may have to pay an extra penny on their budget purchases as Poundland plans to buy 99p Stores.

The two companies have signed a conditional deal for £55m, £47m of which would be in cash and the rest in stock.

The sale would include 99p Stores’ high street shops, so could affect the South Road branch in Haywards Heath.

Poundland shares rose over 7.5% in early trading today to 384.9p.

Send your news, views and pictures to middy.news@jpress.co.uk