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Mon, 02 Nov 2026

Mon, 02 Nov 2026 Poundland's former owner offers to invest as minister prepares to meet board

Wolverhampton's Steve Smith said he wants to put some money back into the firm he started.
Business Minister Kate Dearden will meet with Poundland executives later this week to discuss the company's threatened insolvency. Gordon Brothers bought Poundland from Polish retail group Pepco last year for £1 and have stopped funding the business after rejecting a takeover offer from Irish firm Martin Property Group (MPG). A statement by Gordon Brothers said they are evaluating interest for the whole business and formal and indicative offers for significant viable parts of it, but no current deal is in place. Poundland's founder Steve Smith has expressed his willingness to invest in the company after being surprised by the news of its administration fears despite sales increasing 11% on last year. The UK government says it will "support" Poundland staff amid fears over the retailer's future, with Prime Minister Andy Burnham calling for answers over why an offer to buy the business had been rejected. Poundland has more than 600 stores in the UK and Ireland, and its founder estimates that up to 30,000 jobs could be at risk if it collapses.