Dealz staff 'in the dark' as UK chain Poundland verges on collapse, with 10,000 jobs at risk
Staff at the Irish discount chain Dealz are facing uncertainty as their UK parent company, Poundland, enters a formal sale process and appoints administrators. The business is struggling financially, putting thousands of jobs at risk across both regions.
Why it matters
The potential insolvency of a major retail chain has significant implications for employment and the retail sector in both the UK and Ireland.
DEALZ STAFF IN Ireland are “in the dark” about the future of the company and their jobs as UK arm Poundland, owned by the same parent company, is potentially edging towards insolvency.
Owners Gordon Brothers on Thursday moved to appoint administrators AlixPartners to the business, which will give the business 10 working days to secure a sale deal without being pursued by creditors.
The Board of Poundland Limited issued a statement on Thursday evening which said that over the last two months it has been working on a “formal sale process for Poundland” but that despite “enormous efforts” they haven’t had an “acceptable offer” for the business as a whole.
The board said that it has had different offers that cover a significant part of the business which it believes would offer the best prospects for “shareholders, creditors and to preserve jobs”.
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