Poundland ‘to be sold for £1’ with hundreds of stores facing closure

Thousands of jobs at Poundland may be at risk as the struggling brand, which operates 850 stores and employs over 16,000 staff, considers a rescue deal that could involve closing hundreds of locations. Its parent company, Pepco, is exploring strategic options to separate Poundland from the group, focusing on its more profitable Pepco brand, with potential bids from entities like Gordon Brothers and Modella Capital. The challenging UK retail environment has led to a significant decline in Poundland’s revenues, prompting the need for urgent restructuring.

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