Jenrick clashes with Nelson over Poundland's financial health

Summarised from 2 outlets · Updated 3 Nov, 03:14 · Archive

Reform's Robert Jenrick and political journalist Fraser Nelson clashed on air over Poundland's financial figures during debate on the troubled retailer's future.

Robert Jenrick, Reform's Treasury spokesman, clashed with political journalist Fraser Nelson on Sky News on Sunday morning as the pair debated the future of Poundland, the troubled discount retailer facing collapse and putting 12,000 jobs at risk.

When Nelson said Poundland was losing £1 million a week, Jenrick responded that like-for-like sales were up by almost 6 per cent. Nelson then told him: 'The sales fell by 12%. It sounds like you're not quite across this.' Jenrick repeated his claim of a 6 per cent rise, but Nelson said sales fell by 12 per cent last year and the company lost £1 million weekly.

Jenrick has called on the government to intervene in the possible insolvency. In an interview with City AM, he revealed he is supporting potential bidders and criticised Gordon Brothers, Poundland's American owner, as a 'corporate raider outfit' that had been 'greedy'. He said at least one fully funded offer to purchase Poundland as a going concern had been tabled and accused Gordon Brothers of rejecting offers. He said he had been approached by a retail entrepreneur who had also approached Gordon Brothers about taking over the company, though he did not name the businessman.

How it is being reported

• Jenrick lends support to Poundland suitorsReform UK’s economic spokesman Robert Jenrick has revealed he is supporting potential bidders for discount retailer Poundland as he criticised the group’s “greedy” owner Gordon Brothers for pushing the business towards insolvency. Over the weekend, Jenrick suggested the government should intervene in the possible insolvency of Poundland, which would put some 12,000 jobs at risk, [...]City AM · 3 Nov, 03:00
• Sky News Presenter Delivers Brutal Reality Check To Robert Jenrick During Angry On-Air ClashRobert Jenrick clashed with Fraser Nelson. Robert Jenrick was hit with a brutal reality check during an on-air clash with a Sky News presenter. Reform’s Treasury spokesman went head-to-head with political journalist Fraser Nelson as the pair debated the future of troubled High Street chain Poundland. The iconic store is on the brink of collapse, putting 12,000 jobs at risk. Jenrick has called on the government to step in amid claims Poundland’s American owners have pulled funding and rejected offers from other companies to take it over. On Sky News on Sunday morning, Nelson and Jenrick got…HuffPost UK · 1 Nov, 10:58

In this story: Robert Jenrick · Fraser Nelson · Poundland · Gordon Brothers · Reform UK · Sky News · Innovest Holdings

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