Key facts
- Poundland faces potential collapse within days.
- Thousands of jobs are at risk.
- Disagreement between new directors and owner Gordon Brothers over a sale offer.
- Martin Property Group reportedly offered to buy Poundland as a going concern.
- The retailer employs over 10,000 people and operates around 600 stores.
Poundland is reportedly on the brink of collapse within days, a situation that could put thousands of jobs at risk. The crisis stems from a dispute between three newly appointed directors and the majority owner, Gordon Brothers, over the refusal to accept an offer from Martin Property Group. Sources told Sky News that the disagreement centres on Martin Property Group's bid to purchase Poundland as a going concern, a move that would preserve jobs but is reportedly being resisted by Gordon Brothers. The situation has raised fears of insolvency proceedings, potentially within hours.