Poundland in rescue talks as owners seek buyer

Poundland has confirmed it is in talks with potential buyers as it seeks a rescue deal, with executives working with an Irish property development group on a management buyout. The retailer, which has about 600 stores in the UK and Ireland and 12,000 employees, was sold for £1 last summer by previous owner Pepco to US investment firm Gordon Brothers.

Managing director Barry Williams, along with the leadership team and Andy Bond, a former chairman of Pepco, have been working with Martin Property Group on the buyout, which the company describes as its "preferred partner."

The shopworkers' union Usdaw has warned that the retailer could fall into administration if the deal falls through, putting thousands of jobs at risk. Usdaw national officer Bally Auluk said there are "deep concerns that the business could go into administration" should the buyout fail, adding that "we are told that their offers are being turned down."

A Poundland source disputed this, saying Martin Property Group remains part of the sale process. The chain has struggled for years due to rising costs and competition, though it expects sales to have grown more than 3% in 2026, which Williams said earlier this month was evidence that its recovery plan "is working."