Owner of Poundland exploring sale just a year after buying it for €1

See more This is Money on Google - save us as a Preferred Source Updated: 08:46 EDT, 18 August 2026 The owner of Poundland is considering a sale just over a year after buying the discounter for €1 - sparking fears of further store closures.Gordon Brothers, which also owns Laura Ashley and LK Bennett, closed 200 shops after it bought Poundland last year.And there are fresh concerns that more shops will shut after reports that the investment firm is in talks with advisers over launching an auction process for the retailer. Advisers could be appointed to oversee a sale within days, Sky News reported, with bidders likely to include other turnaround funds or private equity firms. Sale rumours will spark fresh fears of shop closures and job losses on the British High Street.Poundland now runs around 600 shops and employs 12,000 staff.In recent years, it has struggled with a downturn in consumer spending despite its cheaply priced goods. In June last year, Gordon Brothers acquired Pepco Group's struggling Poundland business for a 'nominal' sum - thought to be around €1.Gordon Brothers said it would provide up to £80million in financing to 'support the management team's proposed restructuring and turnaround plan for the British discount retailer'.Under its revival plan, it has priced its food products at £1, £2 or £3 - with around 60 per cent of grocery items priced at £1. In January, managing director Barry Williams hailed 'significant progress', raising questions as to why Gordon Brothers has decided to sell the discounter. A Poundland spokesman said on Tuesday: ‘We've made very significant progress over the past year with a recovery plan that's created simpler, better value for customers centred around thousands of items back at our iconic £1 price point.’ Well-known British high street names have fallen victim to a combination of shaky consumer confidence and a higher tax burden. Last week, Mike Ashley's Frasers Group bought luxury department store chain Harvey Nichols for the cut-price of £40million after warning it could run out of cash without further investment. DIY INVESTING PLATFORMSAJ BellAJ BellEasy investing and ready-made portfoliosHargreaves LansdownHargreaves LansdownFree fund dealing and investment ideasinteractive investorinteractive investorFlat-fee investing from £4.99 per monthFreetradeFreetradeInvesting Isa now free on basic planTrading 212Trading 212Free share dealing and no account feeAffiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.Compare the best investing account for you