Burnham 'ready to support' Poundland staff as retailer faces collapse

Andy Burnham has said the government is "ready to support" Poundland staff as the discount retailer teeters on the edge of collapse, after its US-based owners Gordon Brothers cut off the funding that keeps its day-to-day operations running.

"This is a deeply worrying time for Poundland staff and their families," Burnham told the BBC. "We want to see jobs protected," he added. "We stand ready to support the workforce however we can."

The retailer's bosses have filed a notice of intention to appoint administrators, a move that came after managing director Barry Williams told the chain's 12,000 staff that Gordon Brothers had restricted its access to funds. It is understood Gordon Brothers wants to break the business up, with rivals including Poundstretcher, B&M and Lidl expressing interest in parts of it.

Business Secretary Jonathan Reynolds said he was "very much concerned" by the uncertainty, and the prime minister called for answers over why an offer to buy the business had not been accepted. A memo seen by the BBC described an offer from Martin Property Group as "fully funded," though managers and owners could not reach agreement.

The chain could still be purchased out of administration in a so-called pre-pack deal. Founded in 1990 with a store in Burton-upon-Trent, Poundland now serves around 20 million customers across some 600 stores in the UK and Ireland, where it trades as Dealz. On Thursday, staff chanted "Save our Jobs" outside the company's customer support centre in Walsall.

Source: BBC News (https://www.bbc.co.uk/news/articles/cqrky1p4dlm7o)