Prime Minister Andy Burnham has urged Poundland owner Gordon Brothers to work with the government on a practical solution to save the discount retailer's jobs and stores, saying many stores are viable propositions on high streets that matter in their communities. Business Live reported the intervention on 4 November 2026.

Downing Street said on Tuesday that Gordon Brothers was not acting in the best interests of its 12,000 employees and 600 outlets. Poundland filed a notice of intention to appoint administrators last Thursday, 29 October, and the moratorium expires next Thursday, putting the workforce and stores at risk.

Bids rejected, meetings held

Gordon Brothers, which bought Poundland last year for £1, rejected a solvent bid from Irish firm Martin Property Group because it did not offer upfront payment on a £30 million loan inherited from previous owner PepCo. A further bidder, Xyra Group Holdings, has put forward an offer of £12.5 million upfront for the business as a going concern, according to ITV News reporting cited by Business Live, though it will need to demonstrate proof of funds.

Business Secretary Jonathan Reynolds was set to meet Gordon Brothers on 4 November, and Gordon Brothers is understood to have secured buyers for roughly half of the 600 stores. No rescue deal has been agreed, and that is not claimed here.

Sources: Business Live, Poundland: Andy Burnham says owners must work to save jobs and stores, 4 November 2026; City AM via Business Live; ITV News via Business Live.