Modella Capital emerges as potential bidder for Poundland

Modella Capital has emerged as a potential bidder for the British discount retailer Poundland. The retail investor, which recently acquired the Polish chain Dealz, is being considered as Gordon Brothers prepares to launch a formal sale process for the business.

Gordon Brothers, which acquired Poundland from Pepco Group for a nominal £1 last year, has appointed Alvarez & Marsal to oversee the auction. A formal sale process is expected to begin within weeks. Poundland currently operates approximately 600 stores across the UK and employs around 12,000 people, following a restructuring program that saw the closure of roughly 200 stores.