Key facts
- Poundland faces potential insolvency and breakup.
- Owner Gordon Brothers is reportedly against a solvent takeover offer from Martin Property Group.
- Thousands of jobs and around 600 stores are at risk.
- Independent directors are expected to resign over the dispute.
Poundland is at risk of insolvency and a potential breakup, with thousands of jobs and around 600 stores under threat. Owner Gordon Brothers is reportedly leaning away from a solvent takeover offer from Martin Property Group, which Poundland's management had identified as the preferred bidder. The dispute centers on a £30 million shareholder loan and Gordon Brothers' unwillingness to make an upfront repayment. Three independent directors appointed to oversee the sale process are expected to resign due to the disagreement. Other bids from retail rivals for parts of the business are being assessed, and insolvency could be avoided if a revised takeover offer is submitted within 48 hours.