Poundland’s board will review sale offers for the British discount chain after its owners added three directors, as potential buyers discuss the company as a whole or viable parts of its business.
Gordon Brothers, which became the majority owner last year, and minority owner Pepco appointed Andrew Kirkpatrick, Stephen Welch and Dominic Young. The owners said the new directors would bring dealmaking experience and broader industry knowledge. Pepco sold control of Poundland last year.
Kirkpatrick previously advised former owner Steinhoff International. Welch chairs fintech firm FNZ and formerly served as a director at The Telegraph. Young previously held a directorship at the parent company of The Spectator magazine.
A Gordon Brothers spokesman said discussions with potential buyers are continuing. He said established retail operators have made indicative offers for significant viable parts, while other offers cover Poundland as a whole.
The board will weigh the proposals with stakeholder interests in mind, Gordon Brothers said. The spokesman said the company aims to reduce uncertainty for people connected to Poundland, suppliers and local communities.
