Poundland employs more than 10,000 people and counts some 600 stores.
Poundland counts thousands of employees (Image: Getty)
Poundland is facing a heightened risk of collapse as the directors recruited to lead the retailer through a sale process are on the brink of resigning, it has been claimed. The three directors appointed on October 15 are expected to leave their posts after a disagreement with Poundland‘s majority owner, Gordon Brothers, Sky News reports. The dispute allegedly centres around the shareholders’ decision not to accept a solvent offer for the company from Martin Property Group, the news outlet said.
The directors’ appointment came after the majority owner, Gordon Brothers, which snapped up Poundland only last year, launched a sale process for the high street retailer earlier this month. The group has appointed Andrew Kirkpatrick, Stephen Welch and Dominic Young as directors.
Mr Kirkpatrick was previously an adviser to Steinhoff International, the South Africa-based former owner of Poundland. Mr Welch is a restructuring expert who was previously a director at the Telegraph and is currently chairman of fintech firm FNZ.
The group has also appointed Dominic Young, a former director of the Spectator magazine’s parent company. At the time, a spokesman for Gordon Brothers said: “After commencing a thorough sale process for the entirety of the company, prompted by interest from several parties, active discussions continue with a number of potential acquirers.
“The offers include those from buyers for the whole business and also indicative offers for significant viable parts of the business from established retail operators. The board will now objectively evaluate these options, considering all relevant stakeholders, with a view to minimising uncertainty for the people, suppliers and local communities with an interest in the business and its future.”
The Daily Express has contacted Gordon Brothers and the Martin Property Group for further comment.
Gordon Brothers told Sky News: “As well as interest from buyers for the whole business, the sale process has also surfaced a number of formal and indicative offers for significant viable parts of the business from established retail operators.
“These options will now be objectively evaluated, with a view to minimising uncertainty for Poundland’s people and all relevant stakeholders.”
Poundland has shut more than 100 stores across the UK since June 2025 as part of its overhaul, aimed at turning around significant losses.
The retailer employs over 10,000 people and has about 600 stores. Its collapse would put thousands of jobs at risk, possibly within days of John Healey’s inaugural budget as chancellor of the exchequer.
A loss of jobs at this scale would also mark a blow for Prime Minister Andy Burnham, whose government is trying to project a positive outlook for the economy.