MPs from several parties have urged ministers to step in on behalf of Poundland's 12,000 workers after the retailer's owner, the US restructuring firm Gordon Brothers, filed notice last week of its intention to appoint administrators, The Guardian reports. During an urgent question in the Commons on Tuesday, Labour and Green MPs accused the owner of asset-stripping and called for a review of insolvency rules.
Kate Dearden, the minister for the future of work, said officials had spoken to Gordon Brothers on Monday night and that she would meet Poundland managers and the shop workers' union Usdaw on Wednesday. Business Secretary Jonathan Reynolds is due to see the owner again this week. Dearden said ministers could not take part in commercial negotiations, but the paper reports that at least two buyers, including Martin Property Group, remain in talks for the whole business.
Source: The Guardian