Discount retail chain Poundland has been sold to US-based restructuring specialist Gordon Brothers for £1, with the new owner set to inject up to £80 million to stabilise the business. The move signals a significant shake-up for the chain’s 800-store footprint across the UK and Ireland and puts thousands of jobs at risk.

The deal sees Pepco Group, the current majority owner, exit its controlling stake while retaining a minority interest. The sale enables Pepco to refocus on its core European brand, which generates higher margins, as it withdraws from UK grocery and household retail operations.

Gordon Brothers is expected to lead a major turnaround programme that includes rent renegotiations and the closure of a substantial number of underperforming stores, pending court approval. The Poundland and Dealz brands will remain active across the UK, Republic of Ireland, and Isle of Man.

Chief executive Barry Williams, who resumed leadership in March, will continue to head the business through the restructuring process. Despite the nominal sale price, Pepco is expected to recover tens of millions from the transaction, which has been in the works for months and is scheduled to be completed by September.

PuK Gaming, a precision-engineered mobile gaming accessories firm, has welcomed Luke “iFerg” Fergie, a mobile gaming content creator, as a co-owner and strategic investor in the company.

With 10m fans across platforms like YouTube and X, iFerg brings unparalleled influence and expertise to PuK Gaming. As a co-owner, iFerg will play a pivotal role in product development, collaborating on new accessories.

Additionally, he will contribute to day-to-day operations, including strategic planning, content creation, and community engagement, to drive PuK Gaming’s growth in the competitive mobile gaming market.

“We’re thrilled to have iFerg join PuK Gaming as a co-owner,” said Simon Burgess, co-founder of Leicester-based PuK Gaming. “His investment and hands-on involvement will accelerate our innovation, ensuring our products meet the needs of both casual and competitive players. iFerg’s vision aligns perfectly with our goal to redefine mobile gaming.”

“I’m beyond excited to take a leadership position, investing my time and money into PuK Gaming,” said iFerg. “Their modular accessories are game-changers, and I’m eager to work closely with the team to continue developing products that empower players to dominate. This is a huge step for mobile gaming, and I’m proud to be part of it.”

PMT, previously the UK’s largest bricks-and-mortar musical instrument retailer, has entered administration and shut down all operations with immediate effect. The decision has resulted in the permanent closure of its 11 retail stores and warehouse in Liverpool, as well as the termination of its online store. Ninety-six staff have been made redundant, with a further 48 retained to support the administration process.

The company, officially trading as S&T Audio Limited, reported a turnover of £43 million for the year ending April 2024. It was the fourth-largest musical instrument retailer by revenue in the UK, with a strong presence in major cities.

All remaining stock and select intangible assets, including trademarks, commercial data, and websites, have been acquired by Gear4Music for up to £3.6 million. This deal secures some of PMT’s legacy but leaves a significant gap in the UK’s physical music retail landscape.

Administrators cited shrinking margins due to competitive pricing, declining consumer confidence, rising operational costs, and tightened supplier credit terms as critical pressures. Attempts to restructure, sell, or refinance the business failed to produce a solvent solution.

With the East Midlands Bricks Awards set to be bigger and better than ever this year, there’s also a grand prize worth £20,000 on offer. Celebrating the region’s property and construction industry, the prestigious event recognises development projects, businesses, and people in commercial and public building – from office, industrial and residential schemes, through to community projects such as leisure schemes, schools and public spaces. We also highlight the work of architects, agencies and those behind large schemes – and the Overall Winner at the event, sponsored by SEV, will be awarded a year of marketing/publicity with Business Link worth £20,000, with the opportunity to split or gift the marketing to a charity of your choice. A highlight in the business calendar, winners will be revealed at the East Midlands Bricks Awards’ 10th annual awards ceremony on Thursday 2nd October, at the Trent Bridge Cricket Ground – an evening of celebration and networking with property and construction professionals from across the East Midlands. Attendees will also hear from Councillor Nadine Peatfield – Leader of Derby City Council, Cabinet Member for City Centre, Regeneration, Strategy and Policy, and Deputy Mayor of the East Midlands, our keynote speaker. To nominate your (or another) business/development for one of our awards, please click on a category link below or visit this page. Categories include:

• Contractor of the Year
• Developer of the Year
• Architects of the Year
• Most Active Agent
• Deal of the Year
• Residential Development of the Year
• Sustainable Development of the Year
• Commercial Development of the Year
• Excellence in Design
• Responsible Business of the Year
• Overall Winner (this award cannot be entered, with all finalists having the chance to take home the Overall Winner award)

Welcoming almost 150 professionals, nominating a company or project for the awards is a great way to showcase your successes, recognise your team’s efforts, and reach our audience of over 60,000 business readers, while also offering a chance to connect with respected professionals. And better yet, it’s completely free to enter! Making the top three finalists in your category also wins you free tickets to the event, where you’ll be in the running for one of our coveted awards.

Nominations will close on Friday 15th August.

New for this year, all entrants will also have the opportunity to be featured on our dedicated nominee showcase on the East Midlands Business Link website, providing space for marketing your achievements. Upon submitting a nomination, we will get in touch for any information, imagery, and video nominees would like to be featured on their showcase page.

The East Midlands Bricks Awards 2025

What: The East Midlands Bricks Awards 2025 When: Thursday 2nd October (4.30pm – 7.30pm) Where: Derek Randall Suite, Trent Bridge Cricket Ground, Nottingham Keynote speaker: Councillor Nadine Peatfield – Leader of Derby City Council, Cabinet Member for City Centre, Regeneration, Strategy and Policy, and Deputy Mayor of the East Midlands Tickets: Available here Dress code: Standard business attire Thanks to our sponsors:                                                              

To be held at:

With a limited number of sponsorship opportunities remaining, please contact Angie Cooper at a.cooper@blmgroup.co.uk to learn more if you are interested in becoming an East Midlands Bricks Awards 2025 sponsor.