The company employs score of people across the region at a number of stores
Poundland store(Image: Mike Kemp/In Pictures via Getty Images)
The future of 12,000 retail workers including scores in the Humber region are in jeopardy, after the owners of Poundland filed a notice of intention to appoint administrators. Court filings show that the company filed the legal document on Thursday afternoon.
The document gives the business 10 working days of breathing space to secure an eleventh-hour rescue deal – as creditors are legally blocked from starting any court actions, or debt-recovery processes without permission from the courts. Advisers are still in talks with a range of parties interested in buying the brand and stores, including Wilko and The Range owner CDS Superstores, Poundstretcher owner Fortress and TG Jones owner Modella.
But the firm rejected the preferred takeover offer from Irish real estate firm Martin Property Group. Poundland employs scores of people in the North through a number of stores, including in Hull’s Prospect Street Shopping Centre, Northpoint Shopping Centre, Beverley and Willerby Shopping Park.
Poundland managing director Barry Williams said: “Despite enormous efforts it has not been possible to identify an acceptable offer for the business as a whole. The process has however attracted several established retail operators who have made formal offers. Collectively these cover a significant part of the business, and we believe offer the best available prospects for shareholders, creditors and to preserve jobs. We recognise any sale process creates uncertainty and particularly when set against a challenging UK economic environment.”
He said the firm will be working closely with its advisers to “identify and deliver the best possible outcome”. It is understood business advisory firm AlixPartners will be appointed as administrators – and Poundland stressed that all its stores remain open and trading as normal despite the looming insolvency process.
Gordon Brothers originally acquired Poundland in June 2025, paying just of £1 when it took it over from PepCo Group. It pledged to plough up to £80m into the business as part of its turnaround plan but launched the sale process last month.
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