Brief by Shorts91 NewsDesk / 06:19am on 17 Jun 2025,Tuesday Business
Poundland has been sold for just £1 to Gordon Brothers, with a rescue package including up to £80 million in financing and a major restructuring. The deal puts around 100 of its 800 UK stores, and thousands of jobs, at risk. Before the sale, 18 closures were already confirmed 14 completed, and four more imminent: Barrow-in‑Furness (June 12), Union Gate Bristol (June 20), Flint (June 21), Cowes (July), and Newquay (August 1). Poundland’s revenue dropped 6.5% to £830 million in H1 2025, and the broader UK retail sector is under strain as 17,350 closures and 202,000 job losses are forecast this year. Despite this, Poundland will continue trading under its current brand. (PC: Daily Express)
