The management team of UK discount retailer Poundland is in “advanced talks” to lead a bid for the company, in a move that could safeguard up to 11,000 jobs, the Guardian reported.
The proposed management buyout includes current chief executive Barry Williams and former Asda chief executive Andy Bond, who ran Poundland from 2016 for several years.
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The team is understood to be negotiating with an unnamed financial backer.
Poundland’s owner, Gordon Brothers, appointed Alvarez & Marsal to oversee a sale reportedly valued at £30m ($39.7m).
The process has raised concerns that the restructuring specialist could break up the business, despite improved trading.
Potential bidders are thought to include Fortress, the US owner of Poundstretcher, and Modella Capital, the UK private equity owner of Hobbycraft and TG Jones.
Neither company is involved with Bond’s team, although sources told the Guardian they were among those submitting first-round bids.
Gordon Brothers acquired Poundland from Pepco Group for £1 in June 2025 and agreed to invest £80m under a rescue deal.
Around 149 stores subsequently closed, resulting in 2,200 job losses, after trading problems and unpopular clothing ranges pushed the retailer into loss.
Poundland has since refocused on £1 products and relaunched its Pep & Co clothing brand following a switch to ranges supplied by Pepco.
The retailer employs 11,000 people and operates 600 stores.
It said established stores returned to 3.3% growth in the latest three-month period.
It reported an £85m pre-tax loss for the year to the end of September 2025 while holding more than £30m in cash and several sources of borrowing.
Gordon Brothers has provided a £95m lending facility, of which £50m has been used.
