EasyJet founder to launch budget grocery chain

EasyJet founder Stelios Haji-Ioannou is launching a low-cost UK food retail business to undercut low prices offered by budget supermarkets Aldi and Lidl.

The entrepreneur today announced plans for a pilot site in Croydon as his easyGroup company aims to cash in on the very cheapest end of the grocery market with a venture that could if successful be rolled out on a wider scale next year.