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Dollarama Has Its Eye On The Reject Shop

Canadian discount retail chain Dollarama has its eye on buying The Reject Shop, says a report.

The Australian Financial Review Street Talk reports that Dollarama has been in discussions with The Reject Shop, however it is unclear whether it has broached a deal.

It’s been a turbulent year for The Reject Shop which in February lost its second CEO within 12 months when chief Phil Bishop suddenly resigned from the retailer, citing “personal reasons”.

At that time it expected first-half sales for 2023 of $439.7 million, which is up 3.5 per cent on the same period in 2021.

It achieved the 3.5 percent but lower margins and supply chain costs had left profits flat.

Previous CEO Andre Reich triggered a massive investor selloff when he exited the chief executive roll in April 2022.

The Reject Shop has been embroiled in a class action lawsuit over the alleged underpayment of staff including senior managers.






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