The Newshound

Andy Burnham demands to know why Poundland's US owner rejected a rescue bid as 12,000 jobs are put at risk

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.
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.

Gordon Brothers — which bought Poundland for just £1 in June 2025 — torpedoed a rescue deal backed by the chain's own management by insisting Irish bidder Martin Property Group absorb a £30 million inherited loan. Poundland's board filed a notice of intention to appoint administrators at the High Court on Thursday, triggering a ten-day moratorium. Burnham and Business Secretary Jonathan Reynolds are both demanding an explanation from Gordon Brothers for rejecting the preferred bidder.

Unions claim Gordon Brothers was 'determined' to let Poundland collapse, and cut off day-to-day cash after talks failed.

CDS Superstores, Poundstretcher owner Fortress, Modella and 'Del Boy billionaire' Chris Dawson are among those eyeing parts of the business.

Worker Kelvin Blake, who has served 25 years at the chain, said: 'I feel like the Gordon Brothers have treated us with contempt.'

MoreThe SunHundreds of Poundland stores could be SAVED with bidder plotting rescue deal as chain files for administrationBBC News - UKBurnham 'ready to support' Poundland staff as retailer faces collapseBBC News - BusinessPoundland staff stage Walsall HQ protest after jobs potentially at riskiNewsPoundland on brink of administration – what we knowEvening StandardPoundland to appoint administrators with thousands of jobs at riskThe IndependentPoundland on edge of administration with 12,000 jobs at riskYorkshire LivePrime Minister Andy Burnham gives update as Poundland files for administrationThe TimesAndy Burnham demands answers over Poundland futureDaily Mail NewsPoundland could be broken up as it prepares to call in the administrators with 12,000 jobs at risk - while 'Del Boy billionaire' Chris Dawson and rivals line up to buy ailing discount retailer
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