Poundland founder warns of job losses as administration looms

Summarised from 2 outlets · Updated 4 Nov, 14:33 · Archive

Poundland's founder Steve Smith has warned of up to 30,000 job losses unless the discount chain is rescued from administration.

Steve Smith, the West Midlands founder of Poundland, has decided against making a formal offer to buy back the discount chain, which is at risk of falling into administration. However, he has warned current owners Gordon Brothers that they must act quickly to avoid what he believes will result in up to 30,000 job losses.

Smith told BirminghamLive that whilst he received offers of support from three major backers, a formal bid would take too long. 'If I did, I would have to do my due diligence and speak to a lot of people involved first. This could take two weeks or two months and Poundland won't be here then,' he said.

He is instead urging Gordon Brothers to consider existing bids on the table. Smith warned of pre-Christmas stock shortages unless a deal is reached soon, saying 'The longer this goes on, the bigger the problem will be.' He expressed faith in the business and its staff, noting that sales were up 11.4% the previous week despite widespread staff anxiety about job security. Gordon Brothers purchased Poundland from Pepco Group for £1 in June 2025 and subsequently put the business up for sale.

How it is being reported

• Poundland founder confirms why he won't buy back business and issues warning to current ownersSteve Smith has warned of pre-Christmas stock shortages in Poundland stores unless a deal is struck soon, saying: "The longer this goes on, the bigger the problem will be."BirminghamLive · 4 Nov, 13:51
• 'Let’s save Poundland and 30,000 jobs' says company’s founder Steve Smith as administration loomsSteve Smith, who founded the discount chain in the Black Country, has warned “there is no high street revival without Poundland”Express & Star · 2 Nov, 17:00

In this story: Steve Smith · Poundland · Gordon Brothers · West Midlands · Wolverhampton

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