Poundland staff could be out of work for years if retailer collapses, founder says
Poundland faces potential collapse as it files for administration, putting 12,000 jobs at risk before Christmas. The founder, Steve Smith, is urging current owners to accept a buyout offer to prevent long-term unemployment for staff.
Why it matters
The potential closure of a major high-street retailer highlights the ongoing struggles of the retail sector in the UK economy.
Poundland’s future hangs in the balance after the retailer, which is controlled by the US restructuring specialist Gordon Brothers, filed a notice of intention to appoint administrators on Thursday. Poundland’s future hangs in the balance after the retailer, which is controlled by the US restructuring specialist Gordon Brothers, filed a notice of intention to appoint administrators on Thursday. Poundland Poundland staff could be out of work for years if retailer collapses, founder says Steve Smith calls on owners to accept proposed buyout as 12,000 staff face uncertain future in run-up to Christmas
Prefer the Guardian on Google The founder of Poundland has warned that staff at the retailer could be out of work for “years” if it collapses, as he called on the owners of the troubled chain to accept a proposed buyout deal.
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