Poundland could be sold within weeks after being bought for £1 last June

Poundland’s owner has put the discount retailer up for sale, with hopes of securing a deal within weeks.The prospective transaction follows private equity firm Gordon Brothers buying the company for £1 last June.After overseeing an extensive restructuring of the chain, Gordon Brothers appointed corporate advisory firm Alvarez & Marsal (A&M) to contact potential buyers.A&M formally initiated the sale process on Wednesday and will hold discussions with suitors following initial expressions of interest.Sky News reported that Modella, which owns TG Jones and Hobbycraft, is among the parties to make an approach.Insiders hope to complete the sale swiftly in the coming weeks, ahead of the vital festive shopping period.Under Gordon Brothers, Poundland underwent a major overhaul to counter signific