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Protect Poundland from predatory capitalism, MPs tell government

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Guardian Business
By Sarah Butler
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Protect Poundland from predatory capitalism, MPs tell government
Photo / Coverage: Guardian BusinessCredit: Sarah Butler
EXECUTIVE SUMMARY

Budget retailer and 12,000 jobs at risk after US owner fails to accept buyout offers MPs have called on the government to protect Poundland and other high street stores from “predatory capitalism” and asset-stripping. The fate of the retail chain and its 12,000 staff remains uncertain after it filed a notice of intention to appoint administrators at the high court last Thursday. The US restructuring specialist Gordon Brothers, which controls Poundland, has lined up the advisory company AlixPartn

Key Takeaways

  • Protect Poundland from predatory capitalism, MPs tell government.
  • The fate of the retail chain and its 12,000 staff remains uncertain after it filed a notice of intention to appoint administrators at the high court last Thursday.
  • The US restructuring specialist Gordon Brothers, which controls Poundland, has lined up the advisory company AlixPartners to run the process.

Budget retailer and 12,000 jobs at risk after US owner fails to accept buyout offersMPs have called on the government to protect Poundland and other high street stores from “predatory capitalism” and asset-stripping.The fate of the retail chain and its 12,000 staff remains uncertain after it filed a notice of intention to appoint administrators at the high court last Thursday. The US restructuring specialist Gordon Brothers, which controls Poundland, has lined up the advisory company AlixPartners to run the process. Continue reading...

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