Discount chain Poundland could be broken up and sold off after the firm said it would call in administrators following the rejection of a rescue deal by its US owners.
Up to 12,000 jobs could be at risk after the budget retailer, owned by investment firm Gordon Brothers, filed a notice of intention to appoint administrators at the High Court today. The move will give it ten days of breathing space to find buyers.
Poundland was set to be sold to Martin Property Group in a deal backed by store bosses, but talks collapsed after Gordon Brothers insisted it shoulder a £30million loan
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