TGJones-owner Modella among potential suitors for Poundland

The retail investor which has cut a swathe through Britain's high streets over the last two years is among the possible suitors for Poundland, the discount chain.

Sky News understands that Modella Capital, which led a controversial restructuring of TGJones earlier this year, is being sounded out about its interest in bidding for Poundland.

Industry sources said Modella had yet to commit to a bid but said it was a logical buyer of the British chain, having bought its former sister company, Poland's Dealz, several months ago.

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Last week, Sky News revealed that Gordon Brothers, Poundland's owner for just over a year, had appointed Alvarez & Marsal to oversee an auction of the business.

Gordon Brothers, another serial buyer of struggling British retailers, acquired the chain for one euro last year.

Poundland trades from 600 stores across the UK, and employs about 12,000 people.

A formal sale process is expected to be launched within weeks.

The chain's sale last year was part of a process which led to the closure of about 200 stores.

The prospect of another change of ownership will cast more uncertainty over Poundland's future, even as people close to the business insist that its financial performance has enjoyed an upturn since last year's restructuring.

In January, Poundland managing director Barry Williams said the business was "on the right track" months after coming close to collapse.

Poundland serves millions of customers every year, and prior to its restructuring employed more than 14,000 people.

Modella and Poundland declined to comment.

(c) Sky News 2026: TGJones-owner Modella among potential suitors for Poundland