Poundland owners resist bid over job loss fears

Poundland s owners are resisting a takeover bid from an Irish property firm over fears it does not have the cash to sustain the company and could put its thousands of employees at risk. The leading bidder to take over the struggling discount retailer, Martin Property Group (MPG), is refusing to pay for the company up front, prompting fears of job losses under its ownership, sources said. MPG, which recently bought National Car Parks (NCP) out of administration, has submitted a formal bid to buy the company from Gordon Brothers, the US investment firm. MPG had been the frontrunner to snap up Poundland but progress towards a deal has stalled, prompting three new directors who had been drafted in to accelerate the sale process to consider resigning. The potential departure of Andrew Kirkpatrick, Stephen Welch and Dominic Young from Poundland’s board, first reported by Sky News, has thrown the future of one of Britain’s best-known high street chains into doubt. Poundla