Poundland hires retail analyst Dorgan as it eyes 2014 flotation

 
Kasmira Jefford
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PHILIP Dorgan, one of the retail sector’s top analysts, has joined Poundland, fuelling further speculation that the bargain chain is heading for flotation next year.

Dorgan, who has worked over three decades as an analyst, was most recently at broker Panmure Gordon, but was made redundant from the firm in July.

One of the most outspoken critics of Ocado’s initial public offering in 2010, Dorgan’s knowledge of the retail sector and extensive contacts are likely to be of use to Poundland as it considers a listing.

Dorgan’s appointment comes after it emerged this weekend that the chain has lined up Rothschild to advise on its upcoming public offering, which is expected to value the firm at more than £700m.

The bank is expected to bring in other advisers to work on the proposed flotation in the next few weeks.