The British discount chain Poundland has been sold for a symbolic fee to the American restructuring fund Gordon Brothers. Although the buyer has promised a loan of 80 million pounds, up to 200 stores are at risk of closing.
Radical restructuring plan
The Polish parent company Pepco Group, which had owned Poundland since 2016, is withdrawing after a period of disappointing results and strategic reorientation. The group is distancing itself from the United Kingdom and wants to focus on a simpler brand portfolio in continental Europe.
