Poundland is set to take over rival discounter 99p Stores for £55 million in a deal that would see the company become one of the biggest retailers on the high street. The deal has been agreed by both sides but must now go to the Competition and Markets Authority for approval, where officials could demand the retailer shut some stores to allow for more competition. If successful it would see Poundland with more stores than WH Smith's high street portfolio and bigger than both Aldi and Lidl. Poundland recently revealed that over Christmas sales rose by 9.8 per cent to £328.4 million, selling 2.8 million Toblerones and 4.6 million units of wrapping paper to shoppers lured by £1 goods.
