Maggie Louise 🩵🇬🇧🏴󠁧󠁢󠁥󠁮󠁧󠁿

Poundland represents a critical example of the potential spectrum between responsible capitalism and rogue vulture raiders. Foreign owners must not be allowed to think they can buy companies in the UK and asset strip them, regardless of the staff and community consequences. Poundland is a very significant example of this situation. The Govt has options to encourage the owners Gordon Brothers to do the right thing. These could include using the Insolvency Act 1986 , the Company Directors Disqualification Act 1986 and the Companies Act 2006. The Business Select Committee should be meeting Gordon Brothers this week in public not private. They should also be requesting to see resignation letters of the 3 directors who were appointed to Poundland by Gordon Brothers on 14 Oct 26 yet all 3 resigned just 13 days later. Apparently in disgust at Gordon Brothers rejecting a solvent rescue bid. Did the resigning directors set out their reasons in writing? Are they giving evidence to the Select Committee? Reform is the party of workers, we believe in responsible capitalism and urge the Govt to use these powers to persuade Poundland’s current owners Gordon Bros to be a responsible steward not a rogue owner. The idea that Gordon Brothers could be asset stripping Poundland and destroying many thousands of jobs while apparently considering the purchase of another U.K. retailer would be abhorrent to the vast majority of the British public.

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