The Newshound

Poundland sales SOARED 8.4% just weeks before its US owner moved to put the chain into administration

Poundland has around 12,000 people directly employed — but founder Steve Smith warned the total jobs at risk, including supply chains, could reach 30,000.
Poundland has around 12,000 people directly employed — but founder Steve Smith warned the total jobs at risk, including supply chains, could reach 30,000.

Poundland managing director Barry Williams sent a note to suppliers praising the chain's "encouraging" performance even as US owner Gordon Brothers lodged an administration-intention notice, putting 12,000 direct jobs at risk across 600 stores. Founder Steve Smith, who sold his shares in 2006, accused Gordon Brothers of "greed" and warned the true toll could reach 30,000 jobs once suppliers are counted. Business Secretary Jonathan Reynolds has demanded an explanation from Gordon Brothers for rejecting a rescue bid from Martin Property Group.

Gordon Brothers bought Poundland for a nominal £1 in June 2025, then rejected a buyout offer — insisting any buyer absorb a £30million inherited loan.

Smith claims he tried repeatedly to buy the chain back and had funding to cover its full £30million valuation, but Gordon Brothers 'never returned my call'.

A ten-day window now remains to secure a buyer, with 'several established retail operators' reportedly making offers covering a significant part of the business.

MoreMetroPoundland founder warns high street will go bust if bargain shop collapsesDaily MailPoundland sales soar despite discount retailer teetering on brink of collapseYahoo News UKPoundland facing 10-day race-against-time to find buyerThe SunPoundland founder warns collapse could lead to 30,000 job losses and cost taxpayers billionsThe SunInside the rise and fall of Poundland - how cheap chain took over Britain’s high streets…& the fatal flaw that DOOMED itThe TimesPoundland sales ‘flying’ despite owner pushing for bankruptcyDaily MailPoundland collapse will trigger 30,000 job losses, founder warns - as he accuses new owners of 'greed' amid battle to rescue retailer
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