Key facts
- Poundland has been sold for £1 to US investment firm Gordon Brothers.
- The sale follows a £79m pre-tax loss for the year to September 2024.
- Gordon Brothers will invest £80 million to support Poundland's turnaround.
- Up to 100 stores may close as part of a restructuring plan.
- Barry Williams will remain as managing director.
Poundland has been sold for a nominal sum of £1 to US investment firm Gordon Brothers, which is considering launching an auction for the discount retailer just over a year after its acquisition. The sale comes as Poundland undergoes a drastic restructuring, having posted a £79 million pre-tax loss in the year to September 2024 on revenues that slipped 2.5% to £1.8 billion. Directors blamed the loss on changes to its product offering and a difficult retail environment. Last August, the High Court approved a restructuring plan that led to the closure of up to 200 stores, with the company having warned it was days from collapse. Gordon Brothers, known for managing distressed retail assets, is expected to appoint advisers within days and is understood to be likely to proceed with an auction. The firm bought Poundland for £1 in July 2025 from Warsaw-listed Pepco Group. Poundland has insisted its turnaround efforts are gaining momentum, with managing director Barry Williams stating in January that significant progress had been made. The company operates approximately 600 shops across the UK.