Poundland owner tells bidders to repay £30m loan as sale gathers pace

Gordon Brothers is telling potential buyers of Poundland they must repay a £30m shareholder loan in full, as the sale of the Walsall-based discount chain gathers pace.

The Financial Times reported that the loan was extended by Pepco, Poundland's previous owner, and passed to Gordon Brothers when it bought the chain for less than £1 last summer. It is secured against all of Poundland's assets. Gordon Brothers hired advisers to run the sale process, and the Telegraph reported that Alvarez & Marsal is... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...