The ex-chief executive of embattled variety store group Wilko has joined the leadership team of value specialist Poundland as its owner considers a sale, Retail Week can reveal.
Turnaround and restructuring expert Mark Jackson, who won credit for his attempts to rescue Wilko before it ultimately collapsed, has become chief financial officer.
Jackson brings connections to Poundland as a former chief financial officer of stablemate clothing business Pep&Co, which is sold in Poundland and parent Pepco shops. He also previously held positions at Pepco predecessor Steinhoff and as chief executive for Bensons for Beds, which it also owned.
Poundland managing director Barry Williams, who has returned to revive the retailer — which he had previously run successfully – told staff of Jackson’s appointment in a memo.
He said: “Not only is Mark highly experienced in the kind of processes we’ll be undertaking, he’s also a long-term friend of our business. His experience as a turnaround specialist will be invaluable to us as we move to rebuild the business.
“We’ve a lot of work to do to get Poundland to a point where we can begin our recovery phase from a tough period—but I know with a clear action plan, the right backing and your support, we will put ourselves in the right position to do exactly that.”
Jackson was parachuted into Wilko in 2022 when the retailer was facing a crisis. He drew respect in the industry for his turnaround efforts but it was too late to stop it hitting the buffers in August 2023.
Pepco revealed earlier this month that it was considering options for Poundland, including a sale. The decision followed tough trading at Poundland, which most recently suffered a like-for-like sales fall of 7.3% in the first quarter. There has been speculation that a CVA may be needed.
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