Poundland directors expected to quit amid sale dispute

Poundland’s three recently appointed directors are expected to resign amid a dispute with majority owner Gordon Brothers over a solvent offer from Martin Property Group, according to people cited in reporting on the retailer’s sale process. The chain’s collapse has not been confirmed, but the reported disagreement has raised the risk of insolvency and store closures. The directors, Andrew Kirkpatrick, Stephen Welch and Dominic Young, were appointed on October 15 to oversee a sale. The reported dispute centres on Gordon Brothers’ decision not to accept Martin Property Group’s offer. The expected resignations and the account of the rejected offer rely on sources cited in Sky News reporting, rather than independent public confirmation from the directors or the companies. Poundland’s leadership previously said it had worked with Martin Property Group on a fully funded, ready-to-go proposal intended to keep the business intact. Its management had identified the group as a preferred partner, according to an earlier company statement reported at the time. The current status of the offer has not been publicly established in the supplied accounts. Gordon Brothers said the sale process...