Poundland prepares for administration, thousands of jobs at risk
The Guardian reported that Poundland is preparing to appoint administrators, putting up to 12,000 jobs at risk across the UK and Ireland.
The Guardian reported that Poundland is preparing to appoint administrators, putting up to 12,000 jobs at risk across the UK and Ireland. Owner Gordon Brothers is filing a notice of intention to appoint administrators at the high court after rejecting a management‑backed rescue bid. The advisory firm AlixPartners has been lined up to run the administration process. The move follows the owner’s decision to pursue court proceedings rather than pursue the proposed rescue plan. If administrators are appointed, the retail chain could face significant operational changes and job losses.
Why it matters
The potential administration threatens thousands of jobs at Poundland stores throughout the UK and Ireland.
Key details
- Location
- United Kingdom · Europe
- Reported by
- The Guardian
- First reported
- Key names
- Owner Gordon Brothers, Business, Poundland, UK
- Section
- Business
Sources
This is an independent summary. Read the full, original reporting from the publisher:
Read the full story at The GuardianSpotted an error? Request a correction · How this summary was produced
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