A rejected bidder renews its offers to save Poundland's 600 stores as the US owner pushes the chain towards administration

Gordon Brothers blocked the one bidder willing to take on all 600 stores, putting 12,000 jobs at risk over its demand for full repayment of a £30 million shareholder loan.

Martin Property Group, a Northern Irish family firm, has reconfirmed two separate offers to Gordon Brothers after the US investment group — which bought Poundland for just £1 last year — rejected its earlier bid and filed a notice to appoint administrators on Thursday. The renewed proposals involve repaying all or part of a shareholder loan worth millions, a move that could keep all 600 stores trading and protect more than 12,000 jobs.

Gordon Brothers had named AlixPartners to handle administration, granting Poundland a 10-working-day moratorium on creditor action.

Prime Minister Andy Burnham demanded to know why a viable offer was rejected, warning the Business Secretary is seeking answers from Gordon Brothers.

Barry Williams, Poundland's managing director, said no single acceptable offer for the whole business has emerged, with rivals including Wilko owner CDS Superstores and Poundstretcher's Fortress bidding for parts only.

The GuardianPoundland in peril: how rampant inflation and price wars left £1 stores exposed Daily MailPoundland situation dubbed 'disgraceful' as bidder retries takeover The SunHundreds of Poundland stores could be SAVED with bidder plotting rescue deal as chain files for administration Evening StandardPoundland to appoint administrators with thousands of jobs at risk BBC News - BusinessPoundland staff stage Walsall HQ protest after jobs potentially at risk Irish TimesUp to 3,000 Irish jobs under threat as Dealz owner seeks UK court protection

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