We loved this humorous observation by Islander, Simon Haytack, spotted on Twitter yesterday (Tuesday).
“When the 99p shop becomes a Poundland, you know the gentrification of Newport is getting out of hand..”
History
Back in September 2015 Poundland announced that they were taking over the 250 99p Store chain around the country.
The takeover had to be passed by the Competition and Markets Authority (CMA), which they approved after a five month inquiry that started in May 2015.
Poundland raised £50m to pay for the 99p Store chain.
The price war of 2013
Fans of a bargain with remember back in 2013, when 99p Store opened opposite the current Poundland shop in Newport, Poundland reduced their prices to 97p.
