Reform UK’s economic spokesman Robert Jenrick has revealed he is supporting potential bidders for discount retailer Poundland as he criticised the group’s “greedy” owner Gordon Brothers for pushing the business towards insolvency.

Over the weekend, Jenrick suggested the government should intervene in the possible insolvency of Poundland, which would put some 12,000 jobs at risk, and stop its American owners from allowing the high street brand to be “stripped for parts”. 

In an interview with , Jenrick argued that “fully funded” offers had been made to Gordon Brothers for a takeover and the owner of the company should engage with them. 

“The question I’ve posed with respect to Poundland is a very simple one, which is why is this business being put into administration when we know that there is at least one fully funded offer on the table to purchase it as a going concern,” Jenrick said, adding that he had been in contact with suitors hoping to take over the company.

“I’ve been approached by another individual, a hugely successful retail entrepreneur, who informs me that he has also approached Gordon Brothers with a view,” he added, without disclosing the name of the businessman. 

The Reform UK figure, who is vying to be UK’s next chancellor, called the owner of Poundland a “corporate raider outfit”, adding that its bosses had been “greedy” and failed to turn around the beleaguered bargain store. 

At least two fully-funded offers to buy Poundland as a going concern have been tabled. One is by Innovest Holdings, an Irish investment firm, but it is understood that Gordon Brothers is not considering this bid. 

As recently as this year, Innovest was being advised by Charles Bunker, an M&A professional and author who stood as the Reform UK candidate in Hitchin during the 2024 general election.

The bid tabled by Innovest is not being taken forward by Gordon Brothers because the group could not provide proof of funds, according to sources close to the process.

Another solvent offer for Poundland was brought forward by Irish property firm Martin Property Group, but Gordon Brothers refused this bid because it did not provide up-front funding for the £30m loan it inherited when it bought Poundland for £1 last year.

Business secretary Jonathan Reynolds said the government was “deeply concerned” by Poundland’s possible insolvency, claiming he wanted to know “urgently” why a bid was not accepted if it stopped the high street brand from falling into administration. 

Jenrick added it was possible the company’s administration process was being “misused” and failing to give “merit to offers that are coming in”. 

On Thursday last week, Poundland edged closer to collapse when it filed a notice to appoint administrators. This gives the beleaguered retailer a 10-day moratorium on creditors calling in their debts while advisors seek to secure a future for its 600 stores and 12,000 staff.

Future of work minister Kate Dearden is set to meet Poundland bosses in the coming days, Sky News reported. 

Poundland’s owner has been fiercely criticised for not accepting either of the solvent bids that had been tabled last month. The company is now nearing a break-up which would see some of its stores and staff flogged to retail buyers. 

Retailers including Lidl, Tesco, Iceland, B&M, The Range and Poundstretcher are among those hoping to pick up some of Poundland’s stores if the firm collapses. 

Gordon Brothers believes it has found buyers for about half of Poundland’s 600 stores but is racing against time to find homes for the remainder of its estate before the moratorium lapses next Thursday, sources said.

Andy Burnham, whose Makerfield constituency is home to a Poundland distribution centre, said last week: “We want to see jobs protected. If there was a potential owner to avoid this that hasn’t been accepted, then the business secretary and I want to know why that is the case.”

Gordon Brothers declined to comment.