Poundland ‘plots sale of bargain chain’ just a YEAR after takeover that shut 200 stores

THE new owners of Poundland are said to be mulling a sale of the business just one year after taking it over. Gordon Brothers, which bought the string of discount stores for just £1 last June, are in talks with advisers about launching an auction process for the brand, according to a report in Sky News. Poundland could be sold again, a report in Sky News has said Credit: Alamy Sources close to the matter told the publication that the American firm was yet to make a final decision on the matter, but was likely to proceed with the process. The deal, which saw the Gordon Brothers purchase the chain from Polish-listed Pepco, resulted in the loss of around 200 stores. Sign up for the Money newsletter Thank you! At the time, the sale, saw the discount chain go back to basics, with bosses upping the number of products sold in store for a quid. It also retired loyalty scheme, Poundland Perks, which was axed last September. Back in January, managing director, Barry Williams said the business was “on the right track” after coming close to collapse. He said the firm’s focus this year would be on “delivering the kind of ranges and price simplicity customers want right across the store.” Poundland employs around 12,000 people across the UK. A Poundland spokesperson told The Sun: “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.” Most read in Money It comes as the discount brand now has around 651 sites, down from about 800 prior to the reorganisation. It has already shut more than 100 locations since June 2025. Today’s developments come amid a tricky time for Britain’s retail scene. Just last week, Harvey Nichols was rescued from the brink of collapse by Mike Ashley’s Frasers Group, taking occupation of its six major stores including its newly-refurbished Knightsbridge venue. Earlier this year, Claire’s Accessories collapsed into administration, closing all 154 of its standalone sites in April. Peter Alexander, the posh sleepwear brand, is also closing all UK stores after citing difficult trading conditions. But in better news, Karen Millen, has returned to the high street after a near seven year hiatus. The fashion brand, which has been sported by Princess Kate, shut all its remaining stores after it was bought by Boohoo after it collapsed back in 2019. Comment now