Poundland’s current owners, Gordon Brothers, last month hired an advisory company to oversee a sale of the business at a reported price of £30m. Photograph: Linda Nylind/The GuardianView image in fullscreenPoundland’s current owners, Gordon Brothers, last month hired an advisory company to oversee a sale of the business at a reported price of £30m. Photograph: Linda Nylind/The GuardianPoundland management in rescue talks that could save 11,000 jobsEx-Asda boss Andy Bond linked to plan, with buyout team understood to be negotiating with financial backer
Poundland’s management team are in “advanced talks” to lead a rescue bid for the ailing cut-price retailer that could save more than 11,000 jobs.
The former Asda boss Andy Bond, who ran Poundland for a number of years from 2016 then stepped up to its former parent Pepco before leaving in 2025, is understood to be part of the negotiations to take on the business.
The management buyout team, which includes the current boss Barry Williams, are understood to be negotiating with an unnamed financial backer.
Poundland’s current owners, Gordon Brothers, last month hired the advisory company Alvarez & Marsal to oversee a sale of the business at a reported price of £30m. The process has fuelled fears that the restructuring specialist is set on breaking up the retailer despite improved trading.
Interested parties are thought to include the US company Fortress, which owns Poundstretcher, and Modella Capital, the UK-based private equity owner of Hobbycraft and TG Jones that this year put the UK arm of Claire’s Accessories and The Original Factory Shop into administration. Neither of these players are involved with Bond’s team.
Sources said these financial companies were among those placing a first round of bids at the start of this week that are to be considered as early as Wednesday.
One source said very few bids were expected to include the entire business and it was a “great shame” if an offer to keep the business trading was not considered.
The discount chain, which employs 11,000 people and has 600 stores, said last week that it had returned to growth of 3.3% at established stores in the latest three-month period. “Profitability is on a strongly improving trajectory with expected pre-tax earnings around £80m better than last year.”
The company registered an £85m pre-tax loss in the year to the end of September 2025 but said it had a cash pile of more than £30m and several sources of borrowings.
Gordon Brothers had put in place a £95m lending facility, of which only £50m had been used, Poundland said.
The restructuring specialist, which bought Poundland from for £1 from Pepco Group in June 2025, agreed to pump £80m into the company as part of a rescue deal last year.
About 149 Poundland stores shut with the loss of 2,200 jobs under the rescue shake-up launched after challenging trading conditions and unpopular clothing ranges sent the retailer into the red.
It has since refocused on £1 items and relaunched its Pep & Co clothing brand after a switch to ranges supplied by its former parent group hit sales
However, the uncertainty about Poundland’s future has reportedly prompted insurers to some of Poundland’s suppliers to pull credit. The move could cause problems with its supply of goods.
