Burnham urges Poundland owner to seek a solution to protect jobs and stores

Business · First reported 4 Nov, 13:19 · Updated 13:31

Image: Wikimedia Commons · NASA Johnson Space Center · Public domain

Andy Burnham has called on Poundland’s owner, Gordon Brothers, to work with the government on a plan for the retailer’s workers and stores. The report says the government is pressing the owner to consider bids as Poundland faces possible administration.

Burnham urged Gordon Brothers to work with the government on a practical solution to protect jobs and stores.
The report says Gordon Brothers has rejected bids, while a proposal from Xyra Group Holdings offering £12.5 million up front is being considered.
Poundland has filed a notice to appoint administrators; the report says its owner is seeking buyers for stores before a moratorium expires next Thursday.

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Key facts

Poundland stores: 600, according to the report.
Staff: 12,000, according to the Downing Street spokesperson quoted in the report.
Xyra proposal: £12.5 million upfront.
Inherited loan: £30 million.