<ul data-eligibleForWebStory="true"><li>Poundland has been sold to Gordon Brothers for £1, with plans for potential store closures.</li><li>Gordon Brothers will invest up to £80m to help restructure Poundland.</li><li>The restructuring plan may involve closing multiple stores, risking thousands of jobs.</li><li>Poundland's sale is part of Pepco Group's strategy to focus on its more profitable Pepco brand.</li><li>Poundland faced tough competition from other discount chains, leading to the decision to sell.</li><li>Budget chains like Poundland are struggling amid competition from supermarkets and other discount retailers.</li><li>Discount retailers have slim profit margins, making it challenging to absorb extra costs.</li><li>Poundland, known for offering products at £1, started moving away from the £1 model in 2019.</li><li>Despite adjusting pricing, Poundland recently increased £1 products to attract customers.</li><li>Poundland was established in 1990 and gained popularity for its range of value products.</li></ul>

Poundland sold for £1 with dozens of store closures expected

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