Poundland put up for sale by owner Gordon Brothers

Poundland is being put up for sale by its owner, private equity firm Gordon Brothers, with the goal of completing the transaction within weeks. The sale process was formally initiated by corporate advisory firm Alvarez & Marsal following initial interest from several parties, including Modella, the owner of Hobbycraft and TG Jones.

Gordon Brothers acquired the discount retailer for £1 last June and has since overseen a significant restructuring to address losses and weak consumer demand. This overhaul included closing more than 100 stores across the UK and simplifying the company’s pricing structure to a £1, £2, and £3 model for groceries, as well as simplifying pricing for clothing and general merchandise.

Stakeholders hope to finalize the sale before the crucial festive trading period begins. A spokesperson for Poundland stated that the company remains focused on its recovery through “back-to-basics retailing,” emphasizing lower prices, new ranges, and better service.