Costcutter may be next on list for supermarkets

Speculation is mounting that symbol group Costcutter may be the next convenience store business to be sold.

It is understood that Costcutter's leading shareholders have debated its future, but have not come to an agreement.

One source said: 'One person with significant ownership is trying to convince certain significant shareholders that selling is the right thing to do.'

Costcutter chairman Colin Graves holds a 25.5 per cent stake, according to Companies House data. Julia Graves also has 25.5 per cent. The other 49 per cent is held in trusts.

Costcutter, which generates sales of approximately£1 billion, would be likely to attract interest from Somerfield, the Co-op and Sainsbury's.

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