Poundland suppliers warn US owner must not maximise its return at their expense

British companies that supply the budget retailer face millions of pounds-worth of losses if it collapses

Suppliers facing millions of pounds in losses if Poundland collapses have said the chain’s US owner should not be permitted to maximise its return at their expense, as ministers attempt to intervene in the situation.

The fate of the retail chain, its 12,000 staff and about 2,000 suppliers remains uncertain after it filed a notice of intention to appoint administrators at the high court last Thursday.

The US restructuring specialist Gordon Brothers, which bought the now 600-store Poundland chain for £1 last summer, remains in talks with at least two possible buyers for the company. They include Northern Ireland’s Martin Property Group, whose offer has been backed by the retailer’s management team.