Poundland owner files notice of intention to appoint administrators — The Guardian

In the United Kingdom, Gordon Brothers, the owner of the Poundland discount store chain, has filed a notice of intention to appoint administrators for the company with the High Court. This step puts up to 12,000 jobs at risk at the chain, which has around 600 stores, including Dealz outlets in Ireland. The Guardian reports.

The consulting firm AlixPartners is expected to be involved in the procedure. The notice protects Poundland from creditors' claims for 10 days, during which a solution for the business will be sought.

Rescue proposal rejected

Earlier, Gordon Brothers rejected a rescue proposal for the chain that was supported by its management. The only bidder to acquire the entire company was the family-owned Martin Property Group from Northern Ireland, which was prepared to work with the current management team led by chief executive Barry Williams.

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Gordon Brothers acquired the troubled chain from European retail group Pepco for a symbolic £1 in June 2025 and assumed £30 million in debt. According to the publication, the owner believes it can receive more from breaking up Poundland than under Martin Property Group's offer, which was worth less than the amount of those debts.

Union position and buyers

The Usdaw retail workers' union called on Gordon Brothers to reconsider its decision and give preference to a buyer that would preserve the company as a whole and protect jobs. The union said that more than 11,000 people's employment was at stake.

Barry Williams told employees that the rejection of Martin Property Group's offer was unexpected, unwelcome and avoidable. He also said that the sales process had attracted interest from several well-known retail operators whose bids collectively cover a significant part of the business. Potential buyers of individual stores include US company Fortress, CDS — the owner of The Range — and B&M.