{"id":2119072,"date":"2026-11-05T06:53:02","date_gmt":"2026-11-05T06:53:02","guid":{"rendered":"https:\/\/www.thebusinessdesk.com\/westmidlands\/?p=2119072"},"modified":"2026-11-05T06:53:02","modified_gmt":"2026-11-05T06:53:02","slug":"poundland-owner-breaks-its-silence-as-it-warns-chain-is-%e2%80%9cvulnerable%e2%80%9d","status":"publish","type":"post","link":"https:\/\/www.thebusinessdesk.com\/westmidlands\/news\/2119072-poundland-owner-breaks-its-silence-as-it-warns-chain-is-%e2%80%9cvulnerable%e2%80%9d","title":{"rendered":"Poundland owner breaks its silence as it warns chain is \u201cvulnerable\u201d"},"content":{"rendered":"

The owner of Poundland has insisted it is working to protect as many jobs as possible, but warned that the Willenhall-headquartered discount chain remains \u201cvulnerable\u201d to any downturn in trading.<\/p>\n

In a statement to TheBusinessDesk.com, a spokesperson for Gordon Brothers said: \u201cWe are pursuing all avenues through the sale process to find a solution which protects as many jobs as possible and preserves value. Work continues at pace, engaging in active discussions on offers with interested parties.\u201d<\/p>\n

The US-based investor, which bought Poundland from Pepco for \u00a31 last year, said it had stepped in when the business was already struggling.<\/p>\n

\u201cWe recognise the Poundland business has faced several years of instability,\u201d the spokesperson said. \u201cWhen Gordon Brothers acquired the business, it was in distress and required a radical restructure, urgent operational change and significant funding, which we provided to support the company\u2019s ability to trade.<\/p>\n

Read more: Poundland wasn\u2019t killed by the cost of living crisis<\/a><\/em><\/h4>\n

\u201cIn spite of our efforts and the tremendous efforts of management to deliver a turnaround, the business remains challenged and vulnerable to any potential downturn in future trading.\u201d<\/p>\n

The statement came after Gordon Brothers met Business Secretary Jonathan Reynolds yesterday<\/a> (Wednesday). According to City AM, the firm committed to protecting jobs at the meeting, and Reynolds stressed that it \u201cmust do everything in their power to protect jobs\u201d.<\/p>\n

City AM also reported that Gordon Brothers is still considering a \u00a312.5m offer from new bidder Xyra Group Holdings<\/a> for the business as a going concern. However, Xyra must prove it has the funds and address its lack of retail experience.<\/p>\n

The pressure on the owner has been building across Westminster. Prime Minister Andy Burnham told Poundland\u2019s owners: \u201cFocus on the people in your employment. Come up with a practical solution that saves jobs and saves those stores because many of them are viable propositions.\u201d<\/p>\n

Meanwhile, business minister Lord Leong caused a stir in the House of Lords when he was asked if he could \u201crule out specific Poundland subsidy or nationalisation as a solution\u201d. He replied: \u201cThe answer is no.\u201d<\/p>\n

According to the Daily Mail, departmental officials later said he had \u201cmisspoken\u201d, and a Whitehall source added: \u201cThere are no plans to nationalise Poundland.\u201d Shadow chancellor Andrew Griffith said nationalising the chain would be \u201cinsane\u201d.<\/p>\n

Gareth Snell, the Labour MP for Stoke-on-Trent Central, told The Telegraph that Gordon Brothers was guilty of \u201cpredatory capitalism\u201d.<\/p>\n

Shopworkers\u2019 union Usdaw, whose national officer Bally Auluk met employment minister Kate Dearden and Poundland\u2019s senior management yesterday, said the owner had refused to talk to it.<\/p>\n

\u201cWe are aware that Poundland\u2019s owners are set to meet with the Business Secretary, which is welcome, but we urge Gordon Brothers to engage directly with Usdaw as the trade union for Poundland staff, which they have so far refused to do,\u201d Auluk said.<\/p>\n

Poundland filed a notice of intention to appoint administrators<\/a> last week. The moratorium protecting it from creditors runs until 12 November. Around 12,000 jobs and more than 600 stores are at risk.<\/p>\n

Gordon Brothers has also been asked to appear before the Commons business and trade committee next week.<\/p>\n","protected":false},"excerpt":{"rendered":"

Poundland owner tells TheBusinessDesk.com the discount chain \u201cremains challenged\u201d as pressure mounts from Westminster<\/p>\n","protected":false},"author":284306,"featured_media":2118032,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47995],"coauthors":[137138],"class_list":["post-2119072","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-retail","tag-black-country","tag-featured-story","tag-top-story"],"yoast_head":"\nPoundland owner breaks its silence as it warns chain is \u201cvulnerable\u201d | TheBusinessDesk.com<\/title>\n<meta name=\"description\" content=\"Poundland owner tells TheBusinessDesk.com the discount chain \u201cremains challenged\u201d as pressure mounts from Westminster\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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