MPs accuse Poundland owner of extracting millions while business struggled

Members of Parliament have accused Gordon Brothers, the owner of Poundland, of taking millions of pounds out of the retailer while the business was struggling on a knife-edge. The budget chain, which employs 12,000 people across 600 stores in the UK and Ireland, previously filed a notice of intention to appoint administrators. Management is now asking the high court for a 10-working-day extension of legal protection from creditors to allow more time to secure a rescue deal. While talks continue with potential bidders, lawmakers have expressed deep concern that the owner's actions may have jeopardized thousands of high street jobs.