Stories

Fri, 30 Oct 2026

Fri, 30 Oct 2026 How Poundland grew from a market stall to a high street giant

The retail giant - which started life at a Wolverhampton market - is now at threat of collapse.
The company's founder, Steve Smith, started selling items for £1 from his parents' stall in Wolverhampton when he was just two years old. He opened the first Poundland shop in 1990 and sold it in 2006 for £250m. However, in 2025, the company was sold to US investment firm Gordon Brothers for a nominal sum of £1. Now, the retailer's bosses have filed a notice of intention to appoint administrators, giving the business 10 days to find a rescue deal. A protest was held outside Poundland HQ on Thursday with around 25 people demonstrating in support of staff who are worried about losing their jobs before Christmas. Retail expert Professor Sarah Montano said that Poundland's unique selling point of everything costing £1 is no longer as effective, as competitors now offer similar prices and even cheaper options.