Poundland owner files notice of intent to appoint administrators; 12,000 jobs at risk
Gordon Brothers filed a notice of intent to appoint administrators at Poundland, putting up to 12,000 jobs and 600 stores at risk after rejecting a rescue bid.
The story in focus
Gordon Brothers filed a notice of intention to appoint administrators for Poundland, putting up to 12,000 jobs at risk across roughly 600 stores. The move protects the chain from creditors for 10 days while a solution is sought, after a management-backed rescue bid was rejected.
- Gordon Brothers filed the notice at the high court on Thursday.
- The legal measure protects Poundland from creditors for 10 days.
- The chain operates about 600 stores, including Dealz outlets in Ireland.
- Gordon Brothers rejected a management-backed bid from Martin Property Group.
- Usdaw urged Gordon Brothers to reconsider and prioritise a unified buyer.
Filing and stake
Poundland owner Gordon Brothers filed a notice of intention to appoint administrators at the high court on Thursday, with AlixPartners lined up to run the process, the Guardian reported. The legal measure shields the discount chain from creditor demands for 10 days while a solution is sought. The filing puts up to 12,000 jobs at risk across roughly 600 stores, including Dealz outlets in Ireland.
Rejected bid and union response
Gordon Brothers rejected a management-backed rescue bid from Martin Property Group, the only bidder interested in buying the entire chain and working with existing management led by CEO Barry Williams. The Guardian reported the offer was worth less than the £30m in debts Gordon Brothers took on when it bought the chain for a nominal £1 in June 2025.
Usdaw national officer Bally Auluk said the week had been distressing for staff and urged Gordon Brothers to reconsider and prioritise a unified buyer. Williams told workers the rejection was unexpected, unwanted and wholly avoidable. The board said the filing was made to bring stability as no acceptable offer for the whole business emerged.
Breakup and alternatives
Gordon Brothers is understood to believe a breakup could raise more than the Martin offer. The board said the sale process attracted offers from established retailers covering a significant part of the business. Rival discounters including Poundstretcher, The Range and B&M have reportedly expressed interest in some stores.
What happens to Poundland during the 10-day protection period?
The notice of intention to appoint administrators protects Poundland from creditors for 10 days while the company and advisers seek a solution, according to the Guardian.
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