Poundland management in rescue talks that could save 11,000 jobs
Source: The Guardian ·
Ex-Asda boss Andy Bond linked to plan, with buyout team understood to be negotiating with financial backerPoundland’s management team are in “advanced talks” to lead a rescue bid for the ailing cut-price retailer that could save more than 11,000 jobs.The former Asda boss Andy Bond, who ran Poundland for a number of years from 2016 then stepped up to its former parent Pepco before leaving in…
From the source
Poundland’s management team are in “advanced talks” to lead a rescue bid for the ailing cut-price retailer that could save more than 11,000 jobs. The former Asda boss Andy Bond, who ran Poundland for a number of years from 2016 then stepped up to its former parent Pepco before leaving in 2025, is understood to be part of the negotiations to take on the business. The management buyout team, which includes the current boss Barry Williams, are understood to be negotiating with an unnamed financial backer. Poundland’s current owners, Gordon Brothers, last month hired the advisory company Alvarez & Marsal to oversee a sale of the business at a reported price of £30m. The process has fuelled fears that the restructuring specialist is set on breaking up the retailer despite improved trading. Interested parties are thought to include the US company Fortress, which owns Poundstretcher, and Modella Capital, the UK-based private equity owner of Hobbycraft and TG Jones that this year put the UK…