More than 12,000 jobs at risk if Poundland enters insolvency

• Poundland could face insolvency and be broken up as three board members overseeing its sale process prepare to resign.
• Poundland’s owner, Gordon Brothers, is understood to be moving away from utilising the main solvent due to a dispute over the repayment of a £30 million shareholder loan.
• A potential collapse or breakup threatens more than 12,000 high street jobs and about 600 stores across the UK.
• Gordon Brothers fears receiving less if the company liquidates before preferred bidder Martin Property Group repays the loan under existing terms.
• Attention has now turned to alternative bids from retail rivals interested in acquiring viable segments of the discount chain.

IN FULL

Poundland faces insolvency as thousands of jobs under threat