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.

Democrats urge FTC to tackle ‘systemic failure’ of biggest convenience and dollar stores over pricing practices after Guardian investigations

Thirty-four members of Congress are calling on the Federal Trade Commission to investigate reports of widespread overcharging by some of America’s most-recognized brand-name retailers.

The 28 October letter to the FTC comes in direct response to Guardian investigations of four of the nation’s largest dollar-store and convenience-store chains. Both investigations revealed pervasive mismatches between shelf labels and register prices.

Jonathan Reynolds’ team has written to Gordon Brothers, which bought retailer for £1 last summer, to ‘establish the facts’

The business secretary’s team has written to the owner of Poundland amid fears that the cut-price retailer could collapse into administration, threatening to overshadow John Healey’s budget.

Sources said that Gordon Brothers, the US investment firm that bought the 600-store Poundland chain for £1 last summer, looks set to appoint administrators to the struggling retailer.