Poundland owner extracted millions when chain was on ‘knife-edge’, MPs say

MPs have accused Poundland’s owner, Gordon Brothers, of taking millions of pounds from the retailer while its finances were precarious. Their concerns come as the chain seeks more time to secure a rescue deal, with 12,000 jobs and thousands of suppliers potentially affected if it enters administration.

Poundland is asking the High Court for a further 10 working days of protection from creditors, and Gordon Brothers has released an extra £10m to support trading and stock purchases. The owner is considering bids for the whole chain, including a management-backed offer supported by Martin Property Group, as well as a possible break-up; reported bids are below the £30m in shareholder debt. Poundland was bought for £1 in June 2025, and its management says sales are up year on year, though cash is limited.