Jobs at risk for workers at Rotherham Poundland as bosses at the bargain chain seek administrators
Poundland have a supersized store at the Parkgate Shopping Centre on Stadium Way
The jobs of staff at Rotherham’s branch of bargain price chain store Poundland may be under threat as the company seems on the edge of collapse.
It is understood that the bosses are filing a notice of intention to appoint administrators.
The filing in the High Court today (October 29) means that creditors cannot call in debts for the next ten business days.
It is believed that AlixPartners will act as administrators to the business if a rescue deal doesn’t happen.
Poundland's managing director Barry Williams has written to all 12,000 staff across its 600 stores in the UK and Ireland saying the chains' US owner, Gordon Brothers, has restricted the business’s access to funding.
Recent rescue talks with Irish firm Martin Property Group came to nothing.
Rotherham’s supersized store is at the Parkgate Shopping Centre on Stadium Way.
Poundland previously announced that it would shut 68 stores in 2025.
Private equity firm Gordon Brothers purchased the business last June for £1 from Pepco.
Poundland began life in 1990 with a Burton-upon-Trent shop.
It is estimated that the stores cater for around 20 million customers per year.
Some reports suggest that rivals Poundstretcher, B&M and Lidl may be interested in snapping up stores.