Lidl tables bid for Poundland stores as 'Del Boy billionaire' Chris Dawson joins a crowded sale race

Poundland's sale process is moving quickly, with a deal potentially possible as early as next week after six to eight retailers submitted bids for its stores. Discount supermarket Lidl has made an offer to buy one Poundland shop initially, with the option to acquire additional sites if the chain is broken up. Gordon Brothers, which paid just €1 for Poundland last year, has also brought in three restructuring specialists as new directors to oversee the sale.

Chris Dawson, 74, the Plymouth billionaire whose retail interests span The Range, Wilko and Homebase, is now targeting parts of the business rather than the whole chain.

Poundland's own management has expressed a preference for Martin Property Group, an Irish real estate firm that recently bought National Car Parks.

Labour's decision to raise employer National Insurance contributions and minimum wages has been blamed for piling further pressure on the struggling retailer's already squeezed margins.