Key facts
- Poundland's owner, Gordon Brothers, is seeking to sell the discount retailer.
- The sale process is expected to conclude within weeks.
- Gordon Brothers acquired Poundland in June for £1.
- Alvarez & Marsal has been hired to find potential buyers.
- Modella, owner of TG Jones and Hobbycraft, has shown interest.
The owner of discount retailer Poundland is looking to sell the business in a swift transaction, with hopes to complete the deal before the crucial festive trading period. Gordon Brothers, the private equity firm that purchased Poundland for £1 last June, has appointed corporate advisory firm Alvarez & Marsal (A&M) to identify and engage with potential buyers. A&M formally launched the sale process on Wednesday, and initial interest has been noted from several parties, including Modella, the owner of TG Jones and Hobbycraft. Poundland has undergone a significant restructuring under Gordon Brothers, which included closing over 100 stores and simplifying its pricing strategy to focus on £1, £2, and £3 price points. The company stated its focus remains on its recovery strategy through "back-to-basics retailing."