UK's Poundland files administration notice to buy time for rescue (updated)

B&M European Value Retail

29/10/2026 14:27

Adds Poundland statement in bullets 3-4
LONDON, Oct 29 (Reuters) - Struggling British discount retailer Poundland on Thursday filed a notice of intention to appoint administrators, giving the business temporary legal protection while it attempts to find a rescue deal.
The notice, filed in the High Court, gives the business 10 working days protection from creditor action
Poundland was put up for sale by US investment firm Gordon Brothers in August, less than a year after it purchased the chain for a nominal sum from Warsaw-listed Pepco Group PCOP.WA
Poundland's managing director Barry Williams said it had "not been possible to identify an acceptable offer for the business as a whole"
But, Williams said, "several established retail operators" have made formal offers for a significant part of the business
Gordon Brothers did not immediately respond to Reuters' request for comment
Poundland trades from more than 600 stores, including via the Dealz chain in Ireland, employing over 10,000
It also operates a distribution centre in Prime Minister Andy Burnham's Makerfield constituency in north west England
Poundland was founded in 1990 and grew to become popular for selling all of its items at the single price point of £1, a policy long since abandoned
In recent years, it has struggled with competition from the traditional supermarkets, discounters Aldi and Lidl and firms such as B&M BMEB.L
Fellow UK discounter Wilko collapsed in 2023

 (Reporting by James Davey and Sam Tobin, editing by Sam Tabahriti and Yoruk Bahceli)
 ((james.davey@thomsonreuters.com))