123 locations under consideration
Frozen-food retailer Iceland is gearing up for a further big expansion of its store portfolio.

The retailer has identified 123 locations around the UK where it wants to open stores. The move follows a new wave of expansion for this year under the direction of chief executive Malcolm Walker.

Iceland announced it is looking for 20 stores this year. The sites will be in high streets, suburban and neighbourhood parades and in towns where the retailer does not trade at present.

The group, owned by the Baugur consortium, has about 670 stores that are focused on frozen food, following a withdrawal from the convenience-store sector.

Last week, the company announced that part of its new£160 million banking facility would be used to fund the conversion of 150 stores from a convenience- store format back to their original format.