Poundland's owner moves toward administration, putting up to 12,000 jobs at risk
Poundland's owner, Gordon Brothers, is preparing to appoint administrators, a step that could put up to 12,000 jobs at risk across the UK and Ireland, The Guardian reported. Administrators are insolvency professionals who take control of a company's affairs when it cannot meet its debts.
On Wednesday night, Gordon Brothers filed a notice of intention to appoint administrators at the High Court. The notice is expected to be approved by a court on Thursday, and it would protect Poundland from creditor demands for 10 days. Advisory firm Alix Partners is lined up to run the administration process.
Poundland operates 600 stores, including Dealz outlets in Ireland. Gordon Brothers bought the business for a nominal £1 from Pepco in June 2025, Reuters reported at the time, and planned to invest up to $108.5 million in its revival. Later that month, a restructuring plan proposed closing 68 stores and included rent reductions, Reuters reported.
Gordon Brothers hired Alvarez & Marsal in August to oversee a sale of Poundland at a reported price of £30m. The company rejected a rescue bid backed by Poundland's management. Martin Property Group, a family-owned company based in Northern Ireland, was the only bidder interested in buying the entire chain, but its offer was worth less than the £30m in debts Gordon Brothers took on when it bought Poundland. Poundland's chief executive, Barry Williams, leads the existing management team that Martin Property Group planned to work with.
Other interest has centred on parts of the business. Fortress, the US company that owns Poundstretcher, was among five parties initially interested and is thought to want less than half of Poundland's stores. CDS, which owns The Range, and B&M are understood to be considering bids for at least some stores.
The UK's Business Secretary, Jonathan Reynolds, the cabinet minister responsible for business, had earlier written to Gordon Brothers amid fears of administration, The Guardian reported on 28 October.
