Protect Poundland from predatory capitalism, MPs tell government

AI Summary

UK MPs have urged the government to protect Poundland as the retailer faces an uncertain future and 12,000 jobs are at risk. The chain's US owner, Gordon Brothers, has not accepted buyout offers and has appointed AlixPartners to oversee an administration process.

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 AlixPartners to run the process. Continue reading...