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Poundland files for administration as owner rejects rescue bid
Poundland has filed notice of intention to appoint administrators after owner Gordon Brothers rejected a takeover offer.
Discount retailer Poundland has filed a notice of intention to appoint administrators, giving the business ten working days to find a rescue deal and putting around 12,000 jobs at risk across its 600 stores in the UK and Ireland. Owner Gordon Brothers, which bought the chain for £1 in June 2025, rejected a bid from Irish firm Martin Property Group, which management had backed as their preferred option. Gordon Brothers is understood to believe it can raise more from breaking up the business than accepting Martin Property Group's offer, which was worth less than the £30m in debts Gordon Brothers inherited. Managing director Barry Williams told staff the rejection was 'unexpected, unwanted and wholly avoidable'. Advisory firm AlixPartners is lined up to run the administration process.
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