'Poundland closure would leave a void in our town'
BBCLosing Poundland would leave a "big void" in the town where it was founded, shoppers have said.
It was announced on Thursday that bosses of the retail chain had filed a notice of intention to appoint administrators, giving the business 10 days to find a rescue deal.
The uncertainty surrounding Poundland's future has left some of its 12,000 members of staff fearful about the future of their jobs.
"It's sad because you could go in and have a bargain, there's always something you can pick up. It's part of the community, there will be a big void unless someone can turn it around," said local resident Pete Harper.
He and his wife Carol remember the humble beginnings of the retail giant when founder Steve Smith started the company with a market stall in Bilston.
The first store opened in The Octagon Shopping Centre in Burton-upon-Trent, Staffordshire, in 1990, with Smith selling his final shares in the firm for £250m in 2006.
"You can buy things for £1.25 or £1.50. It doesn't seem a lot but when you're on a tight budget it makes a difference and the staff are friendly," Peter added.
"It's a name everybody knows. If you change its name, it will lose its identity."
Prime Minister Andy Burnham said on Thursday the government was "ready to support" Poundland staff and called for answers over why an offer to buy the business had been turned down.
"It's a shame because it's been here for so long but it doesn't help that they keep upping the prices, " added shopper Bethany Willis.
She continued: "If you wanted to do shopping, you wouldn't go to Poundland because it's too expensive.
"A lot of the drinks used to be £1 but they are now £1.50 to £2 and everywhere else you can still get them cheaper. A lot of things are now over £5."
Denice Jukes told BBC Radio WM: "I'm shocked, it's always full, you get a good deal for your money although a lot of things aren't £1."
Megan Hollyoake added: "It's a big shop, a lot of people use it [so] it would be a big loss because it's cheaper than a lot of the shops around here."
It is understood Gordon Brothers wants to break it up, with rivals Poundstretcher, B&M and Lidl interested in potentially buying up its stores.
Gordon Brothers bought Poundland, which had been struggling, from the Polish retail group Pepco last year for a nominal £1. A little over a year later, it put the business up for sale.
In a statement released on Thursday, the board of Poundland Limited said it had been "working on a formal sale process for Poundland" and despite "enormous efforts it has not been possible to identify an acceptable offer for the business as a whole".
"We recognise any sale process creates uncertainty and particularly when set against a challenging UK economic environment," they added.
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