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Sir Stelios Haji-Ioannou, easyJet founder, planning budget easyFoodstore launch this year

A location for the pilot store is apparently close to being secured

EasyJet founder Sir Stelios Haji-Ioannou is believed to be planning to launch a budget food chain by the end of the year.

Taking on the likes of Aldi and Lidl, a site for the pilot 'easyFoodstore' is close to being secured with Haji-Ioannou's easyGroup also setting up the web domain easyFoodstore.com, which states the new venture is 'Coming Soon'.

An application to turn easyFoodstore into a trademark has also been filed by the easyGroup.

The Telegraph has approached the easyGroup for an official comment, which it has declined to give at this time. However, it is thought the location of the pilot store is due to be announced shortly.

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