Key facts
- Poundland owner Gordon Brothers is reportedly considering a sale of the retailer.
- The potential sale comes just over a year after Gordon Brothers acquired Poundland for £1.
- Usdaw, the union for Poundland staff, expressed disappointment and concern for employees.
- Poundland has denied the speculation surrounding a sale.
Poundland has publicly refuted "speculation" about a potential sale of the company, following criticism from its retail workers' union, Usdaw. The union stated that reports of owner Gordon Brothers considering a sale are "deeply disappointing" and raise concerns for staff.
According to reports, Gordon Brothers, an investment firm based in Boston, is in discussions with advisers about launching a possible auction for the retailer. This comes just over a year after the firm acquired Poundland for a nominal £1. The company is currently undergoing a significant restructuring.
Bally Auluk, Usdaw national officer, said it was "deeply disappointing" that new owners would consider selling the business so soon after acquisition. Auluk added that staff would be "extremely worried about their future" and expressed concern that the business had not briefed staff or the union before media stories emerged. Usdaw is seeking urgent talks with Poundland to gain clarity on its intentions and is providing support to its members.