Penneys group targets Allders stores
Discount clothing retailer Primark - which trades as Penneys in Ireland - is targeting Britain's Allders department stores, which were put on the market by property group Minerva, it was reported today.
Primark is understood to be interested in buying at least some of the sites of the department store chain, which Minerva is trying to sell.
The retailer plans to increase its floor space by 10% this year and is also moving to continental Europe, having chosen Madrid for its first continental European store.
A Primark spokesman said: “We don’t comment on market speculation.”
The reports surfaced in the Daily Telegraph newspaper.
It is thought Primark is not interested in buying the entire Allders chain, which consists of 25 department stores and 20 stand-alone home furnishing outlets.
Primark employs more than 10,000 people at over 115 stores in Ireland and the UK.
