Ex-Asda boss Andy Bond linked to plan, with buyout team understood to be negotiating with financial backer
Poundland’s management team are in “advanced talks” to lead a bid for the ailing cut-price retailer that could save up to 11,000 jobs.
The former Asda boss Andy Bond, who ran Poundland for a number of years from 2016 then stepped up to its former parent Pepco before leaving in 2025, is understood to be part of the negotiations to take on the business.
Continue reading...Budget retailer had a pre-tax loss of more than £51m last year and is struggling to lure back customers amid stiff competition from rivals
“It’s not actually that cheap any more. It’s kind of lost its appeal because everything is not a pound.”
Samantha, a shopper outside Poundland’s Luton retail park outlet who is heading off to B&M to find some better deals, sums up the feelings of many of her fellow bargain hunters and a central problem facing the new owner of the budget retailer.
Continue reading...PwC says owner plans to reopen stores under Poundland brand throwing lifeline to as many as 1,800 staff
Poundland is to acquire up to 71 Wilko sites that it intends to reopen under its own brand in a deal that could throw a lifeline to some of the about 1,800 staff who will lose their jobs at the stricken retailer.
Under the deal struck by administrators PricewaterhouseCoopers (PwC) with Poundland’s parent company Pepco, the sites will be acquired only after all 408 Wilko stores are shut and more than 12,000 staff made redundant.
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