Poundland has been acquired by investment firm Gordon Brothers for £1 following a slump in sales, resulting in the transfer of over 800 stores and 16,000 employees. Announced by Polish firm Pepco Group, the deal includes plans for restructuring, set to be sanctioned by the High Court. This acquisition is intended to simplify Pepco's operations, with executives highlighting Poundland's importance in the UK discount retail sector and reaffirming a commitment to delivering value to budget-conscious consumers.
This transaction will strongly support our accelerated value creation programme by simplifying the group and focusing on our successful Pepco business.
We welcome Gordon Brothers as we focus on returning Poundland to its core heritage category strengths and place as an essential business to UK households.
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