Gordon Brothers has filed a notice of intention to appoint administrators, which could put 12,000 jobs at risk across Poundland’s 600 UK and Ireland stores.

Advisory firm AlixPartners has reportedly been lined up to run the process, following the high court notice on Thursday [29 October].

This legal measure will protect Poundland from creditors for a period of 10 days, while it works to find a buyer.

The news comes as Gordon Brothers rejected a management-backed rescue bid.

B&M, The Range-owners, Poundstretcher, TGJones-owner and Irish investor Martin Property Group have all shown interest in the discounter over the past few months.

In September, it was reported that Gordon Brothers is considering selling the discount chain and its Irish sister business Dealz separately as it looks to secure a deal ahead of Christmas.

Gordon Brothers had initially been exploring a sale of Poundland and Dealz together but is now weighing up a break-up of the businesses following interest in the Irish chain from retailers and investors.

Gordon Brothers acquired Poundland from former owner Pepco Group in June 2025 and provided up to £80m of financing to support its turnaround. At the time of the deal, the retailer operated more than 800 stores across the UK and Ireland.

It has since been working to return to its value roots, simplifying its ranges and putting greater emphasis on its signature £1 price point.

The potential sale comes after a difficult financial period for Poundland. Its latest accounts showed sales fell from around £1.8bn to £1.6bn in the year to September 2025, while it recorded a pre-tax loss of £85.2m.

However, managing director Barry Williams has insisted that the retailer is making progress with its turnaround, with the business seeking to rebuild customer trust through simpler pricing and ranges.

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