Modella Capital has emerged as a potential bidder for Poundland as owner Gordon Brothers prepares to sell the discount retailer.
The investment firm, which acquired TGJones earlier this year, is reportedly being sounded out about its interest in the business. However, it has not yet committed to making an offer.
Modella previously purchased Dealz, Poundland’s former sister chain in Poland.
Gordon Brothers has appointed Alvarez & Marsal to oversee the auction, with a formal sale process expected to begin within weeks. It acquired Poundland from Pepco Group for a nominal £1 last year.
Poundland now operates around 600 UK stores and employs approximately 12,000 people following the closure of about 200 locations under its restructuring programme.
The retailer is understood to have improved its financial performance since the overhaul, which focused on simplifying its offer and strengthening its value proposition.
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