Poundland on brink of administration, with 12,000 jobs at risk
Summary
Poundland’s owner, Gordon Brothers, has filed notice that it intends to appoint administrators, putting up to 12,000 jobs at risk across the UK and Ireland. Gordon Brothers rejected a management-backed offer for the 600-store chain, and other discount retailers are reported to be interested in some stores.Key Facts
- Gordon Brothers filed a notice of intention to appoint administrators at the High Court on Wednesday night.
- The notice is expected to receive court approval on Thursday and would protect Poundland from creditor demands for 10 days while a solution is sought.
- AlixPartners is lined up to run the administration process.
- Poundland operates about 600 stores, including Dealz outlets in Ireland.
- Gordon Brothers bought Poundland from Pepco for a nominal £1 in June 2025 and took on £30 million in debts.
- Martin Property Group was the only bidder interested in buying the entire chain and working with its existing management.
- Poundland chief executive Barry Williams told workers that rejecting the Martin offer was “unexpected, unwanted and wholly avoidable.”
- Poundstretcher, The Range and B&M have reportedly expressed interest in taking on some stores.
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