Poundland has extended its protection from creditors by a further 10 working days after its board applied for a second notice of intention (NOI) to appoint administrators on 12 November 2026. The first NOI, filed on 29 October, expired at midnight on 11 November.
The board said funding had been agreed so the business can keep trading during the sale process, and that its stores remain open as usual. Poundland trades from around 600 stores in the UK and Ireland, where it trades as Dealz, and employs more than 10,000 people.
Owner backs the extension
Poundland’s owner, investment firm Gordon Brothers, said it supported the board’s decision. It said funds would be released so that staff are paid in full this month, with further funds released to support trading.
Gordon Brothers said it is in talks with three parties about buying the whole business and has received several offers from high street retailers for significant parts of it. It said its preference remains a sale of the whole company, and that it is checking that any successful bidder has the funds to buy the business and run it until it generates cash sustainably. It said it had provided £85m of new financing over the past 12 months.
Gordon Brothers bought Poundland from Pepco Group in June 2025. Earlier this week it agreed to release around £10m from the company’s balance sheet to support the business.
Select committee hearing
Gordon Brothers backed the extension during a private hearing with the House of Commons Business and Trade Committee on 11 November. Committee chair Liam Byrne MP said afterwards that he was concerned the owner’s behaviour may have put thousands of jobs at risk, and called on it to give Poundland access to its own funds.
The first NOI followed Gordon Brothers’ rejection of a bid from Martin Property Group, backed by Poundland’s management, which did not include full repayment of a £30m shareholder loan on completion. AlixPartners is named in the notice as the proposed administrator.
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