Business · 1 hour ago
Poundland Gets £12.5m Rescue Bid From Little-Known Firm
christopher deane, CC BY-SA 2.0, via Geograph/Wikimedia Commons
A little-known investment firm has offered £12.5m upfront to buy Poundland and promises to protect thousands of jobs at the struggling discount chain. Xyra Group Holdings, which has never bought a retailer before, wants to keep the whole business and expand it abroad. The bid comes as ministers meet Poundland's US owner, Gordon Brothers, amid growing fears the high street retailer could collapse before Christmas.
Reported by ITV News · How we write briefs