Poundland has been bought by investment firm Gordon Brothers for a nominal amount, understood to be £1.
Pepco, the Polish owners of Poundland, put the discount chain up for sale in March saying the “increasingly challenging UK retail landscape” was holding back the business.
Gordon Brothers will invest up to £80m in the business.
There are more than 800 British Poundland stores with some 16,000 employees.
Poundland, founded in 1990, opened in Broadstairs High Street in 2022 but earlier this year it announced it would be shutting the branch this month, with the company saying it was unable to secure a long-term lease for the High Street building.
The site, which is more than 4,000 square feet, was previously occupied by Tesco.
There are also branches in Westwood Cross Retail Park, Margate High Street and Ramsgate High Street.
Under the new ownership, Poundland will continue to be led by chief executive officer Barry Williams who returned to the business in March 2025.
Gordon Brothers will carry pout a restructuring and turnaround of the business after a period of challenging trading.
The business will continue to operate under the Poundland brand in the United Kingdom and under the Dealz brand in the Isle of Man and Republic of Ireland.
Poundland’s chief executive officer Barry Williams said: “Poundland is a UK and Ireland retailer of real significance, serving 20 million customers each year with a much-loved brand. Although recent trading has been challenging, we have built a turnaround plan with a simplified and more focused Poundland at its heart, as we aim to deliver the amazing value our customers expect.
“In due course we’ll share more details of the proposed restructure and turnaround plan. I’d like to thank Pepco for its stewardship of the business. We welcome Gordon Brothers and look forward to working with them as we implement our turnaround plan.”
“We are delighted to provide Barry Williams and his management team with the financing to support the substantial turnaround of this iconic retailer,” said Mark Newton-Jones, Head of Europe, the Middle East and Africa at Gordon Brothers. “We believe Poundland is an essential business to UK consumers and plays an important role on the High Street.”
Some positive retail news!!
Not really, as usual with these investment companies, hedge funds or whatever else they call themselves-the plan is to fire as many people as possible & reduce the service to their customers. This will of course just be the start of it.
17 JUN 2025-
Poundland has announced plans to close 68 stores and two UK warehouses as part of a restructuring plan after being sold to investment firm Gordon Brothers. The chain will also stop selling frozen food, reduce the amount of chilled food it sells, and stop selling online.
It will be closing its frozen and digital distribution centre in Darton, South Yorkshire, later this year and closing its national distribution centre in Bilston, West Midlands, in early 2026.The discount chain, known for primarily selling products for £1, had been put on the market earlier this year after a sharp downturn in trading.
On Tuesday, Poundland said it is seeking court approval for a restructuring plan to shut 68 shops and secure rent reductions on dozens more.
The retailer said it expects to end up with between 650 and 700 stores after the overhaul. It currently runs around 800 stores across the UK and Ireland but stressed Irish shops have not been affected.
Poundland said it also plans to close its frozen and digital distribution site at Darton, South Yorkshire, later this year and another warehouse at Springvale in Bilston, West Midlands, in early 2026.
Around 350 people will be affected by the warehouse closures. The company has not disclosed how many store workers will be impacted. It will also stop selling frozen food at stores where its currently offered and reduce its chilled food offer in the future.
Great. Peter Checksfield can at last afford some new clothes.
Alice, who the f-ck is Alice?!
Chubby Checkersfield-Brown
Alice I have it on good authority Peter obtains his dresses from charity shops, there are some good ones in Birchnigton so I’m told!
Good news indeed, we love our pound shop in Broadstairs and their customer service is great! Welcome to stay, we were very sad to learn that it was shutting down but this is good news and their products are good value for money, ooh yeah, it made my day.
From a very satisfied customer!
Do you ever feel like shouting?
Are you a Macho Man Randy Savage fan?
Well you won’t be happy then Lulu because Broadstairs is still still closing down
We,re be sad to see the broadstairs store close at the end of the month , staff are really friendly and helpful and they stock many items that normally you,d have to travel to westwood or ramsgate for , its a shame they couldn,t agree a new lease !
Yes indeed Dave, I was positively informed yesterday, the closure will go ahead due to the non- renewal of the lease!
No effort was made to do this.
As you mentioned we have to go to Ramsgate or WX or Margate, I won’t bother tbh!
Love the Ramsgate Poundland. When the staff aren’t fighting off shoplifters, they give excellent customer service!
LOL!
Not sure Poundland Broadstairs will be staying.
Great. Peter Checksfield can at last afford some new shoes.
Ever been to the Mad Hatter cafe in Margate?
Great. Peter Checksfield can at last afford some new teeth.
Peter is Alice your carer, lol
She’s just one of many female admirers.