Burnham urges Poundland owner to work with government to save jobs

Andy Burnham has urged Poundland’s owner, Gordon Brothers, to work with the government on a practical solution to save jobs and stores. The appeal comes as ministers and politicians criticise the US investment firm for rejecting or not progressing offers that could keep the retailer operating, while its future grows more uncertain.

Poundland employs about 12,000 people and has 600 stores. The owners rejected a solvent bid from Martin Property Group over payment of a £30 million loan; Innovest’s offer included upfront payment but was not considered because it could not provide proof of funds. A new £12.5 million upfront offer from Xyra Group Holdings is under consideration, subject to proof of funds and concerns about its lack of retail experience. Poundland filed a notice to appoint administrators last week, and Gordon Brothers is said to have buyers for about half its stores before a moratorium expires next Thursday.