Poundland owner extracted millions when chain was on ‘knife-edge’, MPs say
Summary
Retailer’s management to seek two-week extension of legal protection from creditors in high court MPs have accused the owner of Poundland of extracting millions of pounds from the budget retailer when it was on a “knife-edge” as it seeks extra time to secure a rescue deal. The management of Poundland, which employs 12,000 people and operates 600 stores in the UK and Ireland, will seek a two-week extension of legal protection from creditors from the high court on Thursday morning.
Description from The Guardian.
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Poundland owner extracted millions when chain was on ‘knife-edge’, MPs say
Retailer’s management to seek two-week extension of legal protection from creditors in high court MPs have accused the owner of Poundland of extracting millions of pounds from the budget retailer when it was on a “knife-edge” as it seeks extra time to secure a rescue deal....
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Poundland owner releases £10m to retailer hours before MP grilling
Poundland's owner has released millions of pounds of funding to pay the discount retailer's suppliers - a breakthrough in talks about saving the company and its 10,500 staff.
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