US EditionThousands of Poundland jobs at risk as shops to close after company sold
- Pepco Group sold Poundland to investment firm Gordon Brothers for a nominal fee of £1 on June 12, 2025.
- Earlier this year, Pepco decided to sell Poundland following a significant drop in sales and increased employer National Insurance contributions that heightened financial challenges.
- Poundland experienced a 6.5% decline in revenue, reaching €985 million during the half-year period ending in March, alongside a net closure of 18 stores and plans for additional restructuring.
- Pepco’s chief executive Stephan Borchert said the transaction will simplify the group, focus on Pepco business, and thanked Poundland’s team for their commitment.
- Poundland is expected to implement a restructuring strategy, pending approval from the High Court, that may result in closing about 100 stores and negotiating lower rents, putting thousands of jobs at risk under the ownership of Gordon Brothers.
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104 Articles
104 Articles
Poundland sold for less than £1 putting thousands of jobs at risk
Poundland has been sold for just £1 to restructuring firm Gordon Brothers, in a move that could see up to 100 stores shut and thousands of jobs put at risk. The struggling discount chain, which operates around 800 stores across
·United States
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Total News Sources104
Leaning Left7Leaning Right2Center53Last UpdatedBias Distribution85% Center
Bias Distribution
- 85% of the sources are Center
85% Center
11%
C 85%
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