Discount retailer Poundland could be broken up after its owners began weighing up offers for sections of the business.
It is understood that owner Gordon Brothers – which only acquired the chain last year for £1 – is currently moving away from the primary solvent takeover bid, raising the prospect of the group entering insolvency within the next few days.
The private equity firm launched a sale process for Poundland last month following turnaround efforts that included closing a significant number of stores.
Irish real estate firm Martin Property Group was named as the preferred bidder by management earlier this month. However, it is understood that Martin’s bid is not fully funded and would involve deferred payments.
Gordon Brothers…