The future of Poundland stores, including one in King’s Lynn, is uncertain as the Government steps in as the company faces the risk of collapse.
The discount retailer has around 600 stores across the country, including one at Pierpoint Retail Park in the town.
Thousands of jobs could be at risk and stores could be closed as Poundland is poised to appoint administrators at the chain.
The Government’s business secretary Jonathan Reynolds has written to Gordon Brothers which bought the retailer for £1 last summer to establish the latest situation at the company.
It is understood Gordon Brothers is planning to file a notice of intention to appoint an administrator. Meanwhile, three independent directors have quit and the business seems on the brink of collapse.
With jobs at risk, shopworkers union Usdaw is calling for the Government to take robust action.
In a statement, Usdaw said: “Following days of speculation, the discount retailer Poundland is on the brink of administration, putting 11,000 jobs at risk. Usdaw is calling on the Government to do all it can to save the discount retailer.”
Image: The Poundland store in King’s Lynn. From Google Maps.
