Poundland supplier 'will lose millions' if retailer collapses
Source: BBC ·
One of Poundland's suppliers will lose millions if it collapses, while other suppliers have said they would go under.
From the source
Adam Turner is sales director at Poundland supplier Hillcrest One of Poundland's suppliers has said it will lose millions if the firm collapses. While that supplier will stay afloat, it is feared that some small and medium-sized suppliers could go under. This is in addition to potentially thousands of job losses among staff. Politicians have been putting questions to representatives of Poundland owners Gordon Brothers this week seeking "clarity" on plans for the retailer. Adam Turner, sales director at Highcrest Retail Brands - a family owned Bradford business - told the BBC that Poundland was one of Highcrest's biggest customers, and that the firms have had a relationship for decades. Highcrest mainly sells confectionary to Poundland, and turns over about £50m. It will "lose a few million" if Poundland becomes insolvent, so it will have a gap in its balance sheet next year, he said. Highcrest was a "longstanding business that can stomach this", but other medium and small suppliers…
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