Worldchoice earmarks stores fit for ownership

WORLDCHOICE has revealed it is in preliminary talks to buy 24 of its members’ shops.

Commercial director Keith Wilson said the discussions are likely to lead to 14 acquisitions­ – provided it gets sufficient backing for its shareholder scheme.

Wilson, who is heading up the shares issue, said: “Of the 24 shops, 18 are worthy of detailed discussions and, of those, I predict we will purchase 14.”

He said the consortium was looking to raise a minimum of £800,000 from shares to continue with its plans to buy the shops and open Greenfield sites. By owning and controlling shops outright, Wilson said the consortium will be better placed to directionally-sell preferred suppliers.

The consortium is aiming to manage 150 shops within five years.