Business · 5 days ago
Poundland is up for sale again after annual losses double to £85.2m
The discount chain shut nearly 180 shops and let go of 11% of its workers as yearly sales dropped by 12%. Gordon Brothers, the investment firm that bought the company for a single pound last July, has hired advisers to manage an auction. Management blames the dire financial results on heavy restructuring work, insisting the business has since returned to making a profit.
Reported by City AM · How we write briefs