Despite economic headwinds, there’s been no lack of activity in the local retail sector. And profit warnings from some of the country’s highest-profile brands – from Harvey Norman to Best & Less and Adairs – have not dulled interest in Australia from one major overseas retailer, Canada’s Dollarama, a Montreal-headquartered discount chain.

Sources told Street Talk that Dollarama had approached The Reject Shop, the ASX-listed discount retailer whose largest shareholder is billionaire businessman Raphael Geminder’s Kin Group. Assisting The Reject Shop with those discussions was UBS, they added.