New owner of Poundland to rebrand stores

Word has reached us that US investment firm Gordon Brothers is seeking a buyer for it's Poundland stores that it bought in the summer of 2025 for a symbolic £1.

The chain has been struggling for a number of years due to pressures including rising costs and competition.

Launched in 1990, the chain where "everything's £1" was good value for money, but 36 years later, £1 does not buy anywhere near as much as it once did.

In fact, to reflect the rate of inflation since 1990, it is expected that the new owners will rename the discount chain to Two-pounds-fifty-seven-land.

image by Grok

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Kwasi Kwarteng "still hopeful" for employee of the month award

The chancellor, Kwasi Kwarteng, is reported to have cleared a space on a side cabinet for an Employee of the Month award.

"He's surprisingly optimistic.", said a treasury spokesman. "I have explained that destroying the pound, humiliating the party and pushing mortgage rates through the roof isn't an ideal start to a career."

Your reporter repeated these reservations to Mr Kwarteng who responded, "Well, I think you'll find there's more to the job that running the economy. I carried a tray of champagne for some mates at a do the other day and they seemed jolly appreciative; that counts for something."

When it was pointed out that the Treasury doesn't actually have an employee of the month award. Mr Kwarteng responded, "Well, it will after my conference speech. And might I add, I've a really tidy desk; the prime-minister asked me to clear it this morning."

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photo: https://pixabay.com/users/mohamed_hassan-5229782/

First published 5 Oct 2022

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