Budget retailer and 12,000 jobs at risk after US owner fails to accept buyout offers

MPs have called on the government to protect Poundland and other high street stores from “predatory capitalism” and asset-stripping.

The fate of the retail chain and its 12,000 staff remains uncertain after it filed a notice of intention to appoint administrators at the high court last Thursday. The US restructuring specialist Gordon Brothers, which controls Poundland, has lined up the advisory company AlixPartners to run the process.