Poundland set for crunch decision on survival after owner grilled by MPs

Poundland faces a critical decision to avoid collapse after its owner, Gordon Brothers, came under intense questioning by MPs. The retailer's directors, Barry Williams and Shaun Wills, are set to meet urgently to decide on extending a moratorium that is currently protecting the business from its creditors. Gordon Brothers, the Boston-based investment firm owning Poundland, has been accused of jeopardising thousands of jobs on Britain's high streets by refusing to guarantee job protection over financial returns.

The chair of the Parliament's business select committee, Liam Byrne, expressed deep concern over Gordon Brothers' behavior, stating that it may have jeopardised thousands of jobs. The 10-day freeze on creditors calling in their debts expires soon, and Poundland filed a notice of intention to appoint administrators. Poundland's directors are likely to agree to an extension, but the investment firm's behavior has raised concerns among MPs.

Poundland's managing director, Barry Williams, and finance chief, Shaun Wills, have accused Gordon Brothers of making it harder for the retailer to access funds with which they could pay suppliers. The investment firm has been under scrutiny for refusing solvent offers to buy Poundland, pushing the retailer towards collapse to allow it to sell off its assets to multiple buyers.