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Thu, 05 Nov 2026

Thu, 05 Nov 2026 Second buyer makes rescue bid for Poundland as retailer faces collapse

A little-known investment group has made a bid to buy the business.

* A second buyer, Xyra Group, has made a rescue bid for Poundland, offering to pay off half of its outstanding debts (£12.5m out of £30m) immediately.
* The offer comes as Poundland teeters on the brink of collapse, with thousands of jobs at risk.
* Gordon Brothers, the current owners, have rejected a rival bid from an Irish property group but are considering Xyra's offer.
* Business Secretary Jonathan Reynolds has urged Gordon Brothers to protect staff and prioritise offers that do so.
* Xyra is offering to pay off a higher proportion of Poundland's outstanding debts than Martin Property Group, which previously submitted a bid that was rejected by Gordon Brothers.
* However, doubts remain about the credibility of Xyra's offer, as there is little evidence they have the money to back it up.
* The fate of Poundland remains uncertain, with its founder Steve Smith warning that 2-3,000 suppliers would be affected if the retailer collapses, potentially leading to 30,000 job losses overall.