Key facts
- The Retail Trust did not respond to emails asking whether it still supports Mark Newton-Jones as an ambassador.
- A notice of intention to appoint administrators expires on Thursday, Sky News reported.
- Gordon Brothers rejected going concern offers because it said it would not recover enough of a £30m shareholder loan for which it paid £1.
- Martin Property Group wants to buy Poundland as a going concern and is backed by the retailer's management team, the Guardian reported.
- Supplier Universal Toiletries faces a financial risk of about £1.5m, director Karan Shah told the Guardian.
- Mark Newton-Jones is due before the business and trade select committee on Wednesday, Sky News reported.
The Retail Trust, a charity that provides workplace and financial support to UK retail employees, declined to say whether it still backs Mark Newton-Jones as an ambassador, after emails asking about his role went unanswered. Sky News reported that Poundland joined the charity only after Gordon Brothers acquired the discount chain in 2025, and that the tie-up was arranged by Newton-Jones, who runs Gordon Brothers' European operations and is listed as an ambassador on the charity's website. A charity spokesman confirmed on Monday that the listing was up to date.
Poundland's notice of intention to appoint administrators expires on Thursday. Sky News reported that directors cannot seek an extension unless they are confident creditors' interests would not be compromised, and that failure to satisfy that test would leave them no choice but to appoint administrators. The Guardian reported that the notice was filed at the high court the previous Thursday and that the chain's fate, along with its staff and about 2,000 suppliers, remains uncertain.
Gordon Brothers has rejected going concern offers on the basis that it would not receive adequate repayment of its share of a £30m shareholder loan for which it paid £1, Sky News reported. The investor then accused management of breaching the terms of Poundland's borrowing facilities and froze access to them, a decision that left chief Barry Williams and fellow director Shaun Wills with no choice but to file the notice, according to people familiar with the process. Gordon Brothers has been contacted for comment.
Martin Property Group, which wants to buy Poundland as a going concern, wrote to the retailer's advisers on Friday calling for Gordon Brothers to release funding to replenish stock, Sky News reported. The Guardian reported that Gordon Brothers is understood to prefer breaking up the chain, selling its stock and parcelling stores to other retailers, a route it said would repay more of the shareholder loan but leave suppliers with unpaid debts.
Karan Shah, a director of supplier Universal Toiletries, told the Guardian his company faced a financial risk of about £1.5m, including almost £700,000 in stock already delivered but unpaid. Richard Tice, of Reform, accused Newton-Jones of hypocrisy on Monday, saying he "parades himself as an ambassador of a charity caring about retail staff, whilst being simultaneously happy to dump thousands of Poundland staff on the dole". Newton-Jones is due before the business and trade select committee on Wednesday.