Poundland owner accused of 'ravaging' high street as 11,000 jobs at risk
MPs have attacked Poundland's owner, Gordon Brothers, as the retailer nears administration, with 600 shops and about 11,000 jobs at stake and a board meeting on extending the deadline.
How it was covered
- ITV carried 63% of the airtime and concentrated on MPs' attack on Gordon Brothers and conflicting accounts over Poundland's rescue.
- Sky News concentrated on the managing director's refusal to guarantee jobs or rule out administration.
- Channel 5, BBC News, BBC One, BBC Two, Channel 4 and GB News: not found in tracked broadcasts.
The Full Story
A plain summary built from the channels that reported this story. Facts only one channel reported are attributed to it.
Poundland's managing director met MPs on Wednesday afternoon as the retailer faced speculation about its future and about 11,000 jobs. Sky News had earlier put the number of jobs at risk at about 10,000, while the managing director and ITV both referred to 11,000. ITV reported that the chain has 600 shops and that MPs were told it sat just hours from administration.
MPs questioned Gordon Brothers, the owner, and the managing director separately. ITV reported that the two appearances produced contradictory accounts.
Paul Kelso of Sky News asked the managing director whether money released by Gordon Brothers would let him guarantee jobs through Christmas and keep the business running. He replied: "There's no guarantees at this point." He said he was there representing "11,000 colleagues", as well as suppliers and high-street retailers, and declined to discuss administration by the end of the day.
ITV reported that MPs launched a blistering attack on Gordon Brothers, the American investment firm that paid £1 for Poundland last June. Mark Newton-Jones, head of Gordon Brothers Europe, gave evidence in private. MPs asked why Poundland's access to its bank accounts had been frozen.
ITV reported that one MP said: "I'm pretty worried now that Gordon Brothers has been behaving almost like a wolf on Wall Street ravaging the British high street." The MP said the firm had refused to say it would prioritise protecting jobs over its own financial returns. ITV reported that the MP also said Gordon Brothers had taken almost £20 million out of the business.
ITV reported that Liam Byrne said he could not say with any confidence that Gordon Brothers was genuinely trying to save Poundland. A source close to Gordon Brothers disputed that Poundland's access to its bank accounts had been frozen, according to ITV. ITV reported that the source said there were three live bids to buy Poundland as a whole and that Gordon Brothers supported extending the administration deadline. Poundland's board was meeting to discuss doing so, ITV reported.
Key Claims
Claims reported during this story's coverage, grouped by how many channels reported each one. Select a dot to see the source excerpt.
| Claim |  |  |  |
|---|---|---|---|
| Reported by all 3 channels | |||
| A panel of MPs was meeting Poundland and its owner that day, with MPs wanting to know how serious Gordon Brothers was about a rescue deal. | Reported by BBC One | ||
| Poundland had been bought by Gordon Brothers for £1 about a year earlier. | Reported by BBC One | Reported by Sky News | |
| Reported by a few · 2 channels | |||
| There was speculation that Poundland could go under, putting around 10,000 jobs at risk. | Not reported by BBC One | ||
| Only on one channel | |||
| A source close to Gordon Brothers denied that its accounts were frozen and said there were three live bids for the company. | Not reported by BBC One | Not reported by Sky News | |
| Poundland was reported to MPs as being hours away from administration, putting 600 shops and 11,000 jobs at risk. | Not reported by BBC One | Not reported by Sky News | |
Channel Perspectives
What each channel focused on, with key quotes.
Sky News led on the immediate uncertainty rather than the committee detail. It aired a doorstep-style interview with the managing director, pressing him on whether jobs could be guaranteed through Christmas and whether administration could come that day. The report also carried an early figure of about 10,000 jobs at risk before the managing director referred to 11,000 colleagues.
- “There's no guarantees at this point.”
- “We're here representing 11,000 colleagues.”
- “That's not to be discussed at this point, sorry.”
ITV1 focused on the political attack on Poundland's owner and the conflicting accounts given to MPs. It named Gordon Brothers' £1 purchase and Mark Newton-Jones's evidence, pressed the question of whether the firm was genuinely trying to save the retailer, and reported both the frozen-accounts allegation and the owner's denial. It ended on the board meeting over extending the administration deadline.
- “I'm pretty worried now that Gordon Brothers has been behaving almost like a wolf on Wall Street ravaging the British high street.”
- “They refused to say that they would prioritise protecting jobs over and above their own financial returns.”
- “I can't say that with any confidence.”
Who was on air
People and organisations each channel put on air while covering this story. Channels' own presenters and reporters are not listed. Names as transcribed, and the list can miss people.
- 19:03 GMT
Broadcast Timeline
News broadcasts tracked for this story, in time order.