UK discount retailer Poundland is facing the risk of insolvency, with around 600 stores potentially closing and more than 10,000 jobs under threat. The crisis comes a year after its former owner, Pepco Group, sold the retailer to US-based Gordon Brothers for a symbolic €1.
Directors appointed to oversee Poundland's emergency sale process are reportedly expected to resign following a disagreement with the retailer's majority owner, Gordon Brothers, Sky News reported.
