CR-2025-004514 - [2025] EWHC 2755 (Ch)

On 26^th August 2025 I approved a restructuring plan under Part 26A of the Companies Act 2006 (“the 2006 Act”) upon the application of Poundland Limited (“Poundland”). These are my reasons for doing so.

The “Poundland” name is a feature of many High Streets, shopping centres and retail parks in the United Kingdom. The same business also trades in the Republic of Ireland under the brand name “Dealz”. There are about 800 operating stores employing 13,100 people. In addition, there are another 22 stores not in current operation and another 1500 administrative and supply chain staff. Poundland operates a discount and value retail business. It originally concentrated on fast moving consumer goods, general merchandise and clothing sold within a narrow price-band; but latterly it broadened its price-points and expanded into chilled and frozen foods, and it opened an e-commerce channel. This diversification was not a success. The additional operating costs eroded profits, an impact recently compounded by increases to NIC and “the living wage”. By 2024 Poundland had encountered financial distress.

Poundland was incorporated in 1990 and by 2020 was a wholly owned subsidiary of PEU (Tre) Ltd (“PEU”) an English company that was itself a subsidiary of Pepco NV, a Dutch company (“Pepco”). For simplicity I will generally refer to Poundland’s immediate and ultimate owners as “Pepco”.