this post was submitted on 12 Jun 2025
49 points (100.0% liked)

World News

47713 readers
3676 users here now

A community for discussing events around the World

Rules:

Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.


Lemmy World Partners

News [email protected]

Politics [email protected]

World Politics [email protected]


Recommendations

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

founded 2 years ago
MODERATORS
 

Struggling budget chain Poundland has been sold for £1 and now faces a shake-up which could see up to 100 stores close, the BBC understands.

Its owner Polish firm Pepco confirmed it had sold the brand for a "nominal" sum to US investment firm Gordon Brothers.

Poundland has 825 UK stores and around 16,000 staff and was struggling to compete with other discount stores, with sales down this January and February.

Following the sale a proposed restructure will be put to the High Court in England, Pepco said.

It comes after Pepco warned that increased employer National Insurance contributions which kicked in in April would put added pressure on the chain.

Pepco Group has owned Poundland since 2016, but the firm had to auction the brand off after sales slumped over the past year.

Gordon Brothers is a global investment firm which formerly owned fashion label Laura Ashley.

top 6 comments
sorted by: hot top controversial new old
[–] [email protected] 22 points 1 week ago (1 children)

Am I misunderstanding things or is this a bit? Selling an entire dollar store type for the british version of a dollar is absolutely hilarious if true.

[–] [email protected] 5 points 1 week ago

The seller thinks the value is net negative to them. The buyer thinks it still has a potential positive value. Both would agree to just hand it over.

Unfortunately, UK law does not allow that. Consideration must go both ways. The simplest way is to sell for the minimum reasonable amount. $1 is traditional in the US. In the UK it is £1. The other commenters link has a good writeup on the practice.

[–] [email protected] 11 points 1 week ago (1 children)

I don't know much about Poundland, but I know they're no liars about their advertising. Everything, including the business itself, went for a pound.

I salute them for their consistency!

[–] [email protected] 2 points 1 week ago

They broke from "everything is a pound" years ago. They also still do a really bad job making it clear what is no longer a pound.

[–] [email protected] 4 points 1 week ago

Not the onion...?

[–] [email protected] 1 points 1 week ago

They're committed, at least