Northern Foods’ chief executive, Stefan Barden, said “latent demand” for cheap products sold by hard discounters and changing social attitudes would see the value-orientated stores become a permanent fixture of British retailing.

“There is latent demand for discount stores,” Mr Barden said, explaining stores like Aldi and Lidl cannot expand fast enough to meet consumer needs for cheap, basic household products. “I wouldn’t mind one round where I live.”