Poundland owner extracted millions when chain was on ‘knife-edge’, MPs say
Retailer’s management to seek two-week extension of legal protection from creditors in high court
MPs have accused the owner of Poundland of extracting millions of pounds from the retailer when it was on a “knife-edge” as the budget retailer seeks extra time to secure a rescue deal.
The management of Poundland, which employs 12,000 people and operates 600 stores in the UK and Ireland, will seek a two-week extension of legal protection from creditors from the high court on Thursday morning.
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RASIPOGULA GOPAL
Sr. Reporter
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