The battle to keep Poundland going is being fought on two fronts and a preferred bidder for the struggling group could emerge this week.
Photo: Sandra Halliday
First, the discount retailer’s parent company Pepco Group is understood to want to sweeten a takeover bid by Gordon Brothers to the tune of tens of millions of pounds, to help finance Poundland’s ongoing operations, according to Sky News. A deal could be finalised this week, the report claimed
Meanwhile, Poundland bosses are planning to force through steep rent cuts on store landlords as part of a agent bid for survival, according to The Telegraph newspaper.
They’ve earmarked “hundreds of stores” for big rent cuts as Pepco looks to persuade new owners to take the chain off its hands.
Poundland hopes to impose reductions on landlords of anywhere between 10% and 50%, while pulling out of scores of other sites via a court-sanctioned restructuring scheme.
However, there’s no guarantee a judge will approve the proposal. A source familiar with the situation said any future decisions on rents would be for a potential new owner to make.
The paper also said a potential auction for Poundland has been cut to two companies, investment funds Gordon Brothers and Hilco that specialise in distressed businesses.
However, Sky sources close to the process insisted that a direct deal with Gordon Brothers had yet to be formally agreed and that it was not yet certain to take place, with other outcomes still possible.
The Sunday Times had previously tipped Gordon Brothers as a frontrunner to buy Poundland.
If a transaction between Pepco and Gordon Brothers is struck, it will pave the way for substantial job losses triggered by the likely closure of well over 100 Poundland stores across the country. That figure could even reach 150-200 stores putting thousands of jobs at risk as part of a formal restructuring plan following a takeover.
Poundland employs around 16,000 people across an estate of over 800 stores in the UK and Ireland.
Under new owners, closures are expected to be accompanied by a huge cash injection as they seeks to turn around Poundland’s dwindling fortunes. Prospective backers anticipate having to immediately pump in between £70million and £100 million to stabilise the company.
Pepco had already outlined the dire situation at Poundland last month saying that underlying earnings could be wiped out in the current financial year.
Pepco crashed to a £548 million loss in December after taking a £650 million write-down on its UK operations. It blamed a “significant decline in performance” as well as rocketing costs at Poundland for the setback.
In a statement, a Pepco spokesperson said: “The focus of the group and advisers is currently on a potential sale of Poundland. This is an ongoing process, and no final decisions have been taken.”
Neither Gordon Brothers nor Teneo, which is handling the sale process, have commented.
Italy is about to get the menswear show season under way amid widespread uncertainty caused by the complex economic situation. On the agenda, two unmissable events: Pitti Uomo, scheduled on June 17-20 in Florence, and Milan Fashion Week Men, on June 20-24. This season more than ever, these two events dedicated to the 2026 Spring/Summer collections are relying on major international names to energise their programmes, with Issey Miyake and Paul Smith top of the bill.
Dolce & Gabbana (shown here, a look from last winter), Prada and Armani will be the only top Italian labels to show in Milan this season – world.dolcegabbana.com
Pitti Uomo’s 108th edition will showcase nearly 750 exhibitors, 43% of them from outside Italy, compared to 770 in January 2025 and 790 in June 2024, as well as a plethora of international events and initiatives. The stars of the show will include Tommy Hilfiger, returning to Florence after an eight-year absence with a new menswear project, and Homme Plissé Issey Miyake, the guest of honour.
Pitti Uomo is looking to generate fresh energy with no less than four guest designers, as opposed to two in January. Italian designer Niccolò Pasqualetti, South Korean label Post Archive Faction (PAF), and Children of Discordance, a Japanese label, will be showing alongside Issey Miyake.
A further spotlight on international design will be provided by the new Code Korea project, set up in partnership with the Korea Creative Content Agency; the presentations by the Scandinavian Manifesto collective, in partnership with Copenhagen’s CIFF trade show; J Quality, a section dedicated to Japanese craftsmanship; China Wave, showcasing the best of contemporary Chinese men’s fashion selected by the Chic trade show and China’s National Garment Association; and finally, a selection of Spanish labels promoted by ICEX. Not to mention the 25 French labels that will exhibit, most of them backed by Promas and French public body DEFI.
In its forthcoming summer session, Pitti Uomo will also focus on sport, simultaneously staging Becycle, the cycling industry event first introduced in June 2024. Cycling-related brands great and small will exhibit at Becycle, including Colnago, Passoni, Ashmei and Pas Normal Studios. Becycle will be part of the show’s entirely redesigned ‘I Go Out’ section on contemporary outdoor apparel and equipment.
This season’s edition of Milan Fashion Week Men will be rather low-key, clearly feeling the impact of the global geo-political and economic crisis. It will feature 81 events, including 44 presentations, 17 special events and 15 runway shows, plus five digital shows that will be streamed on the week’s final morning, on Tuesday, June 24. Only three among Italian fashion’s leading names will feature on the Milanese calendar this season: Dolce & Gabbana, Giorgio Armani and Prada, while Zegna will be showing in Dubai, and many other labels have opted to present their menswear collections with womenswear at the September fashion week.
Some emerging labels that have made their mark on the Milanese fashion landscape in recent years will also give this edition a miss, like Magliano, which is replacing its habitual show with a movie screening, JordanLuca, and Indian designer Dhruv Kapoor. Milan will however rely on four ‘new’ names to freshen up the calendar, starting with British label Paul Smith, which is quitting Paris this season to show at its Milanese showroom on June 21.
The other new entries on Milan’s menswear programme are Setchu by Japanese designer Satoshi Kuwata, winner of the 2023 LVMH Prize, which will kick off proceedings on Friday, June 20; long-standing Italian label Fiorucci, in the midst of a major relaunch; and Qasimi, the menswear label by Hoor Al Qasimi, originally from the UAE.
Two comebacks worth mentioning are those of Vivienne Westwood, which will stage a presentation, and Spanish designers Miguel Vieira and David Catalán, showing on Monday, June 23. The same day will end with the first runway show by French designer Emma Rowen Rose with her baroque-chic, made-in-Italy label Rowen Rose, which is set to launch a menswear line on this occasion.
Before passing the baton to Paris, Milan Fashion Week will be enlivened by a few big parties, including those celebrating Dsquared2’s 30th anniversary and Jacob Cohen’s 40th.
Global sportswear brand Champion has widened its association with combat sports, signing Irish fighter Katie Taylor to a multi-year deal. The association has been sealed ahead of the bell ringing for her highly anticipated third bout in the series against Amanda Serrano at Madison Square Garden, airing live on Netflix on 11 July.
The link’s understandable, given Taylor’s “a force in the ring… becoming synonymous with grit, greatness, and unshakable belief and is considered by many to be the greatest female fighter of all-time”, says Champion.
And there’s another good reason for the association: the second bout in the trilogy drew 74 million viewers globally.
To accompany its support, the brand has lunched alimited-edition ‘KT’ Reverse Weave T-shirt “which pays tribute to her extraordinary career”, as well as abespokefight kit and team gear for the Serrano encounter.
The associated apparel line also includes the launch later this year of a “next-generation combat sports range… shaped bydeep collaboration and insightsfrom Taylor”.
Following Champion’s signing in May of UFC Heavyweight Champion Tom Aspinall, the latest collaboration “supercharges Champion’s commitment to the world of combat sports, a space defined by discipline, intensity, and the relentless pursuit of excellence”.
Champion’s association with the sport is long-standing and claims “the invention of the hooded sweatshirt”, as well as “pioneering mesh nylon jerseys for football players… Champion has consistently delivered functional, performance-driven gear rooted in athlete insight. Many of these innovations have transcended sport to become cultural icons”.
White Stuff’s heading to Lyme Regis, Dorset, for its latest (19 June) opening. Showcasing the womenswear brand’s latest summer collections, the 1,300 sq ft store join’s the seaside town’s high street, creating seven new local jobs.
White Stuff
The brand, which says it offers “unique designs, commitment to sustainable fabrics, and community spirit”, said the latest store continues its UK retail expansion strategy and is the fourth of several planned openings this year.
Previous openings were in Broughton Shopping Park, Dalton Park and Eastbourne last month while the brand also opened a travel-specific store ahead of the summer season at London Gatwick airport.
And to celebrate its 40th year, the British lifestyle label delved into its archive to launch a 17-piece collection called ‘Rewind ’85′.
Area manager Jacqueline Powley, said: “Located on the historic Jurassic coast, this new location marks an exciting next step.”
White Stuff currently operates 117 stores and 49 concessions (including John Lewis and M&S) across the UK serving 1.3 million omnichannel customers a year. The brand also sells internationally via its website and has 606 wholesale stockists (178 in the UK and Northern Ireland and a further 428 internationally).