Huge UK high street chain 'put up for sale' – 12,000 jobs across 600 shops
It comes as the store closed down hundreds of shops in recent years.
UK budget retailer Poundland could be up for sale, as its owners are reportedly considering putting it on the market after just over a year of purchasing it. Gordon Brothers acquired the company in a deal that saw Poundland's estate slashed by around 200 stores.
Now, it has been reported that the owners are in talks with advisers about launching an auction process for the company, which employs around 12,000 people nationwide. Industry sources said on Tuesday that Gordon Brothers had yet to make a final decision on a sale but was likely to proceed with the process.
Advisers are expected to be appointed to oversee a prospective deal within days, Sky News reports.
However, there are concerns that another change of ownership will introduce further uncertainty about Poundland's future, despite the retailer's claims that its financial performance is improving.
Poundland currently has around 600 stores following a series of store closures throughout last year as part of a court-approved restructuring plan.
It is currently understood that the brand's performance has stabilised in recent months. A trading update is expected in the coming days.
In January, its managing director, Barry Williams, said the business was "on the right track" months after coming close to collapse. He added that their focus for 2026 was "delivering the kind of ranges and price simplicity customers want right across the store".
A Poundland spokesperson told Sky News: "We've made very significant progress over the past year with a recovery plan that's created simpler, better value for customers centred around thousands of items back at our iconic £1 price point."
The Express has contacted Poundland for a comment.
