Northampton 99p Stores buy-out deal called in for investigation

Opening of the new 99p Stores in Abington Street
Opening of the new 99p Stores in Abington Street

A bid by Poundland to buy the Northampton-based 99p Stores chain has been called in for review over fears the buy-out could see one company monopolising the ‘single price’ market.

The Competition and Markets Authority (CMA) says it is to conduct an ‘in-depth investigation’ on the buy-out bid unless ‘acceptable undertakings’ are offered.

It says that as there are 80 ‘local areas’ where both a 99p Stores shop and Poundland sit close to each other, those shopping centres would see a ‘substantial lessening of competition’.