Poundland could be sold in a matter of weeks after its owner launched a formal auction process.
The discount chain, which has stores in Sudbury, Ipswich, Felixstowe, and Bury St Edmunds, was acquired by private equity firm Gordon Brothers for £1 last June.
Since then, Gordon Brothers has undertaken a major restructuring of the business.
A Poundland spokesman said: "We’re not going to be distracted from the successful recovery we’re putting in place through good old-fashioned back-to-basics retailing.
"Lower prices. New ranges. Better service."
Gordon Brothers has hired Alvarez & Marsal (A&M) to sound out potential buyers, with the formal sale process launching on Wednesday.
Several parties have already expressed interest in acquiring the retailer.
The sale is expected to move quickly, with hopes of concluding the process before the busy festive trading period.
Gordon Brothers has made significant changes to the business in an attempt to stem losses and adapt to weak consumer demand.
More than 100 Poundland stores have closed as part of these efforts.
The turnaround strategy has included simplifying the company’s pricing model.
All UK stores now offer groceries at fixed prices of £1, £2, and £3, with similarly streamlined pricing for general merchandise and clothing.
Gordon Brothers has also been active elsewhere in the retail sector, purchasing the LK Bennett and Radley brands from administration earlier this year.
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