B&M eyes Poundland stores as discount chain sale process gathers pace, Sky News reports

Oct 19 (Reuters) - Discount retailer B&M is seeking to acquire a small number of stores from rival Poundland as part of any break-up of the struggling chain, Sky News reported on Monday.

• B&M is participating in the sale process but is interested in acquiring only a limited number of Poundland stores, the report said

• Any deal is likely to involve only a "low double-digit" number of outlets, according to a person familiar with the matter cited by Sky News

• Poundland, which operates nearly 600 stores, is exploring a sale or break-up, with owner Gordon Brothers recently appointing restructuring specialists to oversee the process

• At least two solvent bids have been submitted, including one from Ireland's Martin Property Group, which is favoured by Poundland's management team

• Poundland's UK and Irish businesses could be sold separately as part of the process, the report added

• Supermarket chain Lidl and retailers the Range and Poundstretcher are also interested in acquiring some stores, Sky reported

• B&M declined to comment, while Gordon Brothers did not immediately respond to Reuters requests for comment

(Reporting by Atharva Singh in Bengaluru; Editing by Joyjeet Das)