Retail union Usdaw has hit out at Poundland's majority owner Gordon Brothers for refusing a solvent offer to buy the discount chain, warning that the decision raises the risk of administration and puts the jobs of 11,000 workers in jeopardy.
The union is seeking urgent talks with the owners after Sky News reported that three board members were expected to quit over disagreements with Gordon Brothers about the future of the business.
Solvent bid turned down
Usdaw national officer Bally Auluk has met two of the board directors brought in by Gordon Brothers to independently review the bids, and said both favoured selling Poundland as a whole business.
"However, Gordon Brothers has decided not to accept a solvent offer from Martin Property Group, which increases the probability that a business that is on course to turn a profit could fall into administration," Auluk said.
Auluk: 'An incredibly worrying time'
Auluk said the union's repeated attempts to engage with the owners had been ignored: "Despite our repeated attempts to speak to the company, they continue to ignore us. Therefore, we can only conclude that they are determined to let the company fall into administration and make 11,000 people redundant."
"This is an incredibly worrying time for our members, and the union will continue to fight for their jobs and provide them with the help and support they need during this uncertain time."
Usdaw first called for urgent talks with Gordon Brothers in September, when reports emerged that the owners were seeking a buyer for the chain, and earlier this month condemned their refusal to engage with the union over Poundland's future.
