Poundland’s parent company has announced it has sold the brand off for a ‘nominal’ price.
Pepco Group has sold off Poundland to investment firm Gordon Brothers so the group can focus on its Pepco clothing business instead.
Gordon Brothers is spending £80million on its plans to turn Poundland’s fortunes around – but hundreds of shops could close and thousands of jobs are at risk, with some closures already announced.
Pepco Group previously said it saw a drop in revenue of more than £57million last year.
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