# Poundland founder warns collapse could leave workers jobless for years

- URL: https://talkfuse.com/story/poundland-staff-could-be-out-of-work-for-years-if-retailer-collapses-founder-says/
- Published: 2026-11-03T07:00:42+00:00
- Updated: 2026-11-03T07:32:16+00:00
- Original publisher: The Guardian (publisher lean: Left)
- Original article: https://www.theguardian.com/business/2026/nov/03/poundland-staff-out-of-work-for-years-warning-founder
- Topics: Business

## Key points

- Poundland’s 12,000 staff face uncertainty before Christmas.
- Founder Steve Smith says a collapse could leave workers jobless for years.
- A proposed Martin Property Group buyout has been rejected.

## Summary

Steve Smith, Poundland’s founder, has urged its owner, Gordon Brothers, to accept a proposed buyout, warning that a collapse could leave workers unemployed for years. The chain’s 12,000 staff face an uncertain future before Christmas, and Smith says closures would also hurt suppliers and other high-street businesses.

Poundland has sought protection from creditors until 12 November while a solution is explored, but suppliers have held back deliveries, making continued trading harder. Martin Property Group has offered about £7.5m upfront and a further £7.5m over two years, alongside taking on a roughly £90m asset-backed loan; the offer has been rejected. Smith estimates up to 30,000 jobs across the supply chain and affected businesses could be at risk.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.