Skip to contentSwipe for next articleIndependent Bulletin homepageDownload our appAllNewsSportCultureLifestyleWant to bookmark your favourite articles and stories to read or reference later? Start your Independent Membership today.Join todayAlready a member? Log inMike TaylorThursday 29 October 2026 13:58 GMTPoundland sold to investment firm for £1 in 2025Poundland has filed a notice of intention to appoint administrators, placing about 12,000 jobs and 600 UK stores at risk.The legal filing grants the discount retailer 10 working days of protection from creditors to try to secure a rescue deal.The decision follows owner Gordon Brothers rejecting a takeover offer from management's preferred bidder, Martin Property Group.Advisers at AlixPartners are assessing alternative bids for all or parts of the business from various retail operators.Poundland managing director Barry Williams told staff in a memo that the situation was “unexpected, unwanted and wholly avoidable”.In fullPoundland enters administration with 12,000 jobs at riskMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in