Owner Gordon Brothers files notice of intent to begin process after rejecting management-backed rescue bid

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The shop workers’ union Usdaw has urged Poundland’s owners to reconsider a decision to prepare the budget chain for administration, putting up to 12,000 jobs at risk.

Gordon Brothers filed a notice of intention to appoint administrators to Poundland at the high court on Thursday, with the advisory firm AlixPartners lined up to run the process.

VW investment, creating 4,500 jobs in Georgia, comes amid Trump’s damaging tariffs, intense Chinese competition and costly shift towards EVs

Audi has said it will spend $4bn (£3bn) to build its first factory in the US, as its parent company, Volkswagen, struggles with the impact of steep tariffs imposed by Donald Trump.

The German brand’s chief executive, Gernot Döllner, joined Trump on stage at a campaign rally on Saturday night to announce the factory in Macon, Georgia, in an unusual move by a big European brand just days before the US midterm elections.