Poundland sale puts thousands of jobs and 200 stores at risk

The latest bids for Poundland, which was put up for sale by parent company Pepco in March, are expected early this week as formal offers are scheduled to be tabled today, according to The Sunday Telegraph.

Sources have said Poundland is “unlikely to survive” without a large number of store closures.

Poundland employs around 15,000 staff across 825 shops in the UK. It is understood that a new owner would look to slash up to a quarter of the store estate within weeks of taking control, according to the newspaper.

The shortlist of bidders for the discount chain is understood to include Gordon Brothers, Hilco Capital, Endless and Modella Capital – the owner of The Original Factory Shop and the WHSmith high street business.

Under new ownership, it is also expected that Poundland would receive a “significant cash injection” to return the business to profitability, as well as a fresh debt package.

This comes ahead of Pepco Group’s half-year results, which are expected to be released on Thursday.