Business · 1 hour ago
Poundland heads for administration with up to 12,000 jobs at risk
Jaggery via Wikimedia Commons (CC-BY-SA-2.0)
Gordon Brothers, the firm that bought the retailer for £1 last year, filed court papers on Thursday after rejecting a rescue deal. Usdaw, the retail union, wants them to reconsider selling the 600-store business intact to a Northern Irish buyer. However, the owners think they can make more money breaking up the discount chain and selling individual shops to rivals like B&M.
Reported by The Guardian · How we write briefs