Poundland owner set to release £10m to retailer ahead of MP questioning Retail The owner of Poundland has agreed to release around £10m of funding in order to pay the firm’s suppliers a day before its bosses are grilled by the government. Gordon Brothers, the US investment firm which owns the retail group, will unlock the funds held on Poundland’s balance sheet as the first in a series [...]
An ex-DJ and a former Lord Mayor: Who is behind Poundland bidder Xyra Group? Retail Xyra Group is pulling ahead in the race to buy Poundland. Felix Armstrong explores who is behind this little-known investment firm A former DJ, an ex-builder and the 695th Lord Mayor of the City of London walk into a boardroom. Could they walk out as the new owners of Poundland? Xyra Group, an obscure investment [...]
Poundland ‘frontrunner’ Xyra Group asks retailer’s founder to join bid Retail The little-known investment firm emerging as a “frontrunner” to buy Poundland has called on Steve Smith, the retailer’s founder, to bolster its bid for the struggling firm. Xyra Group Holdings, founded by 23-year-old Manvedeep Singh, has asked Smith to lend support to their £12.5m bid to keep Poundland afloat as the discount retailer veers towards [...]
Poundland on course for £18m profit despite owner pushing for collapse November 6, 2026 Poundland is on course for an £18m profit despite its owner pushing for a sale and claiming that the retailer remains “challenged and vulnerable”, City AM can reveal. The retailer’s unaudited profit for the year to September stands at £18m, sources close to the company said. Following the audit, this figure is projected to rise [...]
Burnham urges Poundland owner to work with government to save jobs November 4, 2026 Andy Burnham has said Poundland’s owners must work with the government on a “practical solution” to secure the future of its workers and shops. The Prime Minister criticised Gordon Brothers, the US investment firm which owns the retailer, for failing to engage with the “viable propositions” which have been tabled by a number of bidders. [...]
Poundland owner ‘not acting in best interests’ of workers, says No10 November 3, 2026 Poundland owner Gordon Brothers is “not acting in the best interests” of the discount retailer’s staff and stores as it hurtles towards collapse, Downing Street has said. The Boston-based investment firm, which has faced intense criticism over its attempted sale of Poundland, must explain why it has rejected solvent offers to rescue the troubled retailer [...]
Poundland on brink of collapse as it files notice to appoint administrators October 29, 2026 Poundland is teetering on the edge of collapse after its directors filed a notice of intent to appoint administrators, in a move that puts the future of its thousands of workers in doubt. The company made the filing to the High Court on Thursday, suggesting that AlixPartners, its administrators, could be formally called in to [...]
Jobs on the line as Poundland poised to appoint administrators October 28, 2026 Poundland’s directors are poised to appoint administrators as the beleaguered discount retailer staggers towards collapse. The company is preparing to make a filing to the High Court, which could come as soon as Wednesday evening, which would fire the starting gun on its race to find buyers for its assets and new homes for its [...]
MFS founder accuses administrators of ‘internecine warfare’ October 8, 2026 The founder of collapsed shadow bank MFS has accused administrators of “internecine warfare” and harassment as the firm’s creditors fight to unlock billions of pounds in frozen funds, City AM can reveal. Paresh Raja, the chief executive of Market Financial Solutions who has denied claims he siphoned “vast sums” from the mortgage firm, has asked [...]
Studio behind Danny Dyer and Hugh Jackman films calls in administrators September 30, 2026 A British film studio founded by an ex-Lionsgate boss has folded into administration just a few years after taking $150m in start-up financing. True Brit Entertainment, which was founded by former Lionsgate UK chief executive Zygi Kamasa, appointed administrators on Monday, according to filings. The distributor was set up in 2023 hoping to boost the [...]