Retail trade union Usdaw is seeking urgent talks with Gordon Brothers, the owners of discount retailer Poundland, after Financial Times reports that the firm is “demanding potential buyers stump up £30mn” — a price tag that could deter interest and raise the risk of administration.
Usdaw national officer Bally Auluk said the leaks make disturbing reading for members already worried about Poundland’s future after Gordon Brothers began an accelerated sale process a few weeks ago.
Auluk: ‘Disturbing reading for our members’
“This makes disturbing reading for our members working at Poundland, who are already very worried about the future of the company after Gordon Brothers started an accelerated sale process a few weeks ago.
“It is difficult to understand why Poundland is described as struggling and under threat of falling into administration, after the company’s managing director told staff today that they returned to like-for-like sales growth, which marks another important milestone for recovery. He also thanked staff for their ‘amazing efforts’.”
Auluk said members need clarity and reassurances during a difficult period, and that she is seeking urgent meetings with Gordon Brothers’ senior management to gauge their commitment to the business her members are helping to turn around.
“Clearly our members need clarity and reassurances during this very difficult time and I am seeking urgent meetings with Gordon Brothers’ senior management to gauge their commitment to the business, which our members are successfully helping to turn around.”
Usdaw, the Union of Shop, Distributive and Allied Workers, is the UK’s fifth biggest TUC union with around 370,000 members, most of them in retail.
