Business · 1 day ago
Poundland Gets £10m Lifeline As 11,000 Jobs Hang On Rescue Talks
Mtaylor848, CC BY-SA 3.0, via Wikimedia Commons
Poundland's 11,000 staff have been handed a possible reprieve after its US owner Gordon Brothers released £10m, which could buy time for a rescue deal. The discount chain, bought for just £1 last year, says it cannot properly restock its 600 shops because around £50m of cash has been frozen. MPs question the owners today, while Tesco, B&M and Poundstretcher eye some of the stores.
Reported by BBC News · How we write briefs