Poundland owner set to release £10m to retailer ahead of MP questioning

The owner of Poundland has agreed to release around £10m of funding in order to pay the firm s suppliers a day before its bosses are grilled by the government. Gordon Brothers, the US investment firm which owns the retail group, will unlock the funds held on Poundland s balance sheet as the first in a series of payments, City AM understands. Gordon Brothers pledged earlier today to protect jobs at the embattled retailer after pressure from the business secretary and mounting political backlash over its handling of a sale process, a source told City AM. The US investment firm met with Jonathan Reynolds this afternoon to discuss the future of the company and its 12,000 staff. A source close to Reynolds said the minister had stressed the group “must do everything in [its] power to protect jobs and provide certainty for workers”. Sky News first reported the news of the injection for Poundland. The source said Reynolds is pleased to have secured this commitment from Gor