Poundland set to be sold within WEEKS as owner ‘races to finalise deal’ ahead of Christmas rush

THE new owner of Poundland could sell the chain within a matter of weeks, it has been reported. An auction process for the chain of bargain stores is set to kick off this week as its current owner Gordon Brothers races to agree a sale, Sky News has said. It comes just one year after the chain was sold Credit: In Pictures via Getty Images Sources told the outlet that Alvarez & Marsal (A&M), the firm appointed to advise its currents owners, “wants to secure a sale of Poundland “before the end of October,” which is ahead of the Christmas rush. The chain has also been reported to have already received offers for the chain, including from Modella Capital, which owns Hobbycraft and TGJones. Sign up for the Money newsletter Thank you! First bids are expected to be tabled early next month. Last month it was revealed, the firm, which bought the string of discount stores for just £1 last June, was mulling launching an auction process for the brand. 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.” Most read in Money Poundland employs around 12,000 people across the UK. The deal, which saw the Gordon Brothers purchase the chain from Polish-listed Pepco, resulted in the loss of around 200 stores. 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. A Poundland spokesperson told The Sun: “We’re not going to be distracted from the successful recovery we’re putting in place through good old-fashioned back-to-basics retailing.” The Sun has approached Gordon Brothers for comment. Comment now