Poundland close to collapse as it files notice to appoint administrators

Poundland is teetering on the edge of collapse after its directors filed a notice of intent to appoint administrators, in a move that would put thousands of jobs at risk. The company made the filing to the High Court on Thursday, suggesting that administrators could be formally called in to take control of the business in the coming days. A collapse of Poundland could put nearly 12,000 jobs at risk and shutter its 640 stores around the country.  Poundland s American owners Gordon Brothers had been considering a solvent takeover offer from Irish property firm Martin Property Group but have since rebuffed the bid in a dispute over a loan. Gordon Brothers wanted £30m to cover a shareholder loan despite inheriting it from Poundland s previous owner Pepco when it bought the company for a nominal £1 last year. Should Poundland go under, it will throw scrutiny onto the conduct of Gordon Brothers over the sale process. Martin Property Group s bid had been backed by Poundland s managem