Poundland founder Steve Smith became emotional on Thursday's Good Morning Britain as he pleaded with the chain's owners to accept a rescue deal and prevent the retailer from going into administration.
Speaking to presenters Kate Garraway and Richard Madeley on November 5, Smith urged Gordon Brothers, who bought Poundland last year for £1, to complete a buyout before a 10-day deadline. The company is at risk of collapsing, which could put thousands of jobs in jeopardy.
Founder's plea to save the business
Smith gave a brief history of the company, explaining that it began at his father's market stall, where items were sold in a cardboard box for 10p. He described the current situation, saying: "As of last week, as we know, it's been recommended to go into administration, which they've got 10 days. Everything is frozen; suppliers don't get paid."
Richard then read a statement from Gordon Brothers, which said: "Our intent throughout the comprehensive sale process has been to protect as many jobs as possible and preserve value in order to do the best available outcome for the people, creditors and local communities who care about this business as much as we do."
Emotional moment on air
Smith shared that, according to staff, the business has turned around and is changing its concept back to what it used to be. Despite this, the stores could still close. He pleaded: "It's gaining traction; they've got a good forecast. If the government and the buyers don't get around the table [this weekend], forget about all these emails. Sit around a table."
Richard highlighted that the domino effect if the chain closes would be "phenomenal," as suppliers would lose money. Smith added: "If there's a way of saving it, all I'm pleading is Gordon Brothers, try and make this happen." As he spoke, he became visibly emotional, prompting Kate to say: "You're very emotional about it, aren't you? I feel that. I can see your passion, and I'm sure that's because you know the people involved and what it means to them too."
Viewers react to the plea
Viewers took to social media to praise Smith's passion. One person on X wrote: "Watching the founder of @Poundland on @GMB speaking passionately about trying to save it & watching him get so emotional he couldn't speak that it could close on Thursday for good was a teary start to the day! I love a good Poundland shop; I hope it doesn't close."
Another wrote: "Steve Smith on @gmb - a clever businessman being so obviously emotional about the @Poundland mess." A third added: "What a lovely, sincere man #stevesmith is, founder of #poundland."
Good Morning Britain is available to watch on ITVX.
