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Poundland Put up for Sale Again Just a Year After £1 Takeover
Alvarez & Marsal will sound out buyers as Gordon Brothers seeks a swift deal after a major overhaul and more than 100 store closures.
- On Wednesday, private equity firm Gordon Brothers launched a formal sale process for Poundland, appointing corporate advisory firm Alvarez & Marsal to approach potential buyers with hopes of completing the deal within the coming weeks.
- Gordon Brothers acquired the discount retailer for £1 last year, subsequently closing more than 100 stores and simplifying pricing to £1, £2, and £3 points as part of a major restructuring effort to reverse significant losses.
- According to Sky News, potential suitors including TG Jones and Modella, the owner of Hobbycraft, have already made approaches. The firm aims to complete the sale before the festive trading period.
- A Poundland spokesperson stated, "We're not going to be distracted from the successful recovery we're putting in place through good old-fashioned back-to-basics retailing." The company remains focused on operational improvements.
- The divestment aligns with Gordon Brothers' broader portfolio strategy; earlier this year, the firm also acquired the LK Bennett and Radley brands from administration as it reshapes its retail holdings.
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32 Articles
32 Articles
Evening Standard+2 Reposted by 2 other sources
Poundland could be sold within weeks after owner launches auction
The proposed sale comes after private equity firm Gordon Brothers only bought the business last June for £1.
·London, United Kingdom
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Poundland owners rush to sell retailer before Christmas
The owners of Poundland are racing to find a buyer for the discount retailer ahead of the all-important Christmas trading period, having already received interest from suitors. Gordon Brothers, who bought Poundland only a year ago, have appointed advisors Alvarez & Marsal (A&M) to sound out interest in the company after several parties approached the [...]
·London, United Kingdom
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Total News Sources32
Leaning Left3Leaning Right2Center19Last UpdatedBias Distribution79% Center
Bias Distribution
- 79% of the sources are Center
79% Center
13%
C 79%
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