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January 23rd, 2012 
FAKE NEWS for the Zionist agenda - Lalanis cashed in with cut-price deals in recession
- Private equity firm Electra Partners looking to buy
By
Simon Tomlinson
Last updated at 11:12 AM on 23rd January 2012
Budget bonanza: Managing director Hussein Lalani will stay on to run 99p Stores after its proposed £60m sale
Their shops sell some of the cheapest products on the high street.
But the owners of budget chain 99p are now set to make a fortune as they put their business on the market for £60milion.
Nadir Lalani opened the first shop in Holloway in 2001, but now has nearly 150 outlets following an aggressive expansion that has seen it move into dozens of former Woolworths stores since the chain’s collapse in 2008 at the start of the economic crisis.
The squeeze in consumer spending has increased demand for its cut-price products, which range from Panasonic batteries to four cans of apple Tango, all selling for 99p or less.
Its rival Poundland has also been one of the retail success stories since the recession.
The Lalani family last year put it up for sale and had originally wanted £80 million, according to the Independent on Sunday.
But a price tag of between £50million and £60million was now understood to be more realistic.
Private equity firm Electra Partners
is thought to be the forerunner to buy the firm, but a number of rivals
are also reported to be interested.
If a buyer is found, it is believed that
managing director Hussein Lalani and buying director Faisal Lalani –
Nadir’s sons – will stay on to run the business.
A sale would see 99p Stores follow in the
footsteps of its rival Poundland which was sold for £200million to
private equity firm Warburg Pincus in 2010.
99p Stores plans further expansion after
more than trebling pre-tax profits to £6.3million in the year to January
31, driven by rising sales and improving margins. Its sales increased
26per cent to £231million.
Cashing in: The company has taken advantage of the consumer squeeze by offering a wide range of products from batteries to cans of Tango for knock-down prices
The Northampton-based firm aims to have
600 stores within the next decade, which would see it have sales of more
than £300million and 5,000 employees.
It recently opened a new store format called Family Bargains which is not restricted to selling items for 99p or less.
According to the store’s website, 99p stores were founded by Nadir Lalani in January 2001 when he opened his first store in Holloway, London and continued to open 3 more stores that year.
The website says: ‘In 2002 Nadir
decided to expand the business throughout the whole of the UK. He has
succeeded in rapidly developing the company to make a total of 140
stores up to the end of January 2011.
‘The
company’s retailing concept is extremely simple: a range of more than
3,000 items, each offered at under a pound-representing amazing value
for money.
’99p Stores Ltd aims to have 600 stores the next 10 years, reaching turnover exceeding £300million and 5000 employees.
The
Northampton warehouse is open 24 hours, 7 days a week. 99p Stores
currently employs 3000 people, including head office and warehouse
staff.
99p stores website: Nadir Lalani began the company in 2001 which he now hopes to sell for £60million. The company sells a wide range of discount products
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You can be selective in these stores as they do have well-known brands as well as tat. Dog waste bags are very good value £1 for 200
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No doubt a copy of our Dollar Stores in your “Little America”
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Dear Mrs Halliford of London…….. Get over yourself ….. From someone up North who hasn’t got more money than sense.
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Well good luck to them I suppose. I wouldn’t be seen dead in one of those stores. I’m sure it’s a northern thing really! – Mrs D Halliford, London, 23/1/2012 11:27
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What are the buyers getting for 60m Quid? A load of worthless tat and a load of half expired property leases which will end and leave you with? a big pile of tat.
– Mr Magoo, London, 23/1/2012 8:55
………………… here is another one who knows nothing about valuing a business yet is prepared to have a moan. Typical British negativity. I bet you have never created a penny’s worth of value in your life.
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more money than sense eh?!
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Well good luck to them I suppose. I wouldn’t be seen dead in one of those stores. I’m sure it’s a northern thing really!
– Mrs D Halliford, London, 23/1/2012 11:27
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They don’t even have the decency to reply to emails.
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Fair play to them, and Mrs D Halliford, London ———-did you not read it was Northampton based , no, not a Northern thing!DOH!!!!!!
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Perhaps Mr Lalani could go to westminster and sort out the MP’s food and drinks for them,could save us a fortune!!!
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I shop in poundland due to have a reduced income at the moment and I bedgrudge handing over a pound for something which Is clearly worth only 10p but Its kind of hobson’s choice at the Moment. I also keep an eye on charity shops and freecycle which are good sources Of slightly better quality if second Hand items for a low price.
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