Poundland on brink of administration, with 12,000 jobs at risk
Source: The Guardian ·
Owner Gordon Brothers files notice of intent to begin process after rejecting management-backed rescue bidBusiness live – latest updatesThe owner of Poundland has said it is preparing to appoint administrators, putting up to 12,000 jobs at risk at the retail chain across the UK and Ireland.Gordon Brothers filed a notice of intention to appoint administrators at the high court on Wednesday night,…
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The owner of Poundland has said it is preparing to appoint administrators, putting up to 12,000 jobs at risk at the retail chain across the UK and Ireland. Gordon Brothers filed a notice of intention to appoint administrators at the high court on Wednesday night, with the advisory firm Alix Partners lined up to run the process. The legal measure, which is expected to be approved by a court on Thursday, protects Poundland from the demands of creditors for 10 days while a solution to its problems is sought. Gordon Brothers previously rejected a management-backed rescue bid for the discount chain, which operates 600 stores, including Dealz outlets in Ireland. It bought the struggling chain for a nominal £1 from its previous owner, the European retail group Pepco, in June 2025. Only one bidder, Martin Property Group, a Northern Irish family-owned company, was interested in buying the entire chain and working with the existing management, led by Barry Williams, the chief executive. Gordon…