That Brett Blundy could on Monday offer to take over Best & Less for a price 4.5 per cent less than its last close, and have the board accept, speaks volumes for his stellar reputation in Australian retail.

In provisionally greenlighting the bid, made by Blundy’s BBRC vehicle alongside long-time lieutenant Ray Itaoui, the budget retailer’s independent director Stephen Heath called Blundy “an individual with a strong track record of delivering value in the retail sector”.