Poundworld falls into administration

Budget retail chain, Poundworld has called in the administrators – putting 5,100 jobs at risk.

Poundworld, which is owned by TPG Capital, has around 350 stores across the UK.

It is believed that TPG and Poundworld’s management rejected offers to buy the group out of a pre-pack administration, and instead were hoping to sell it as a solvent business.

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Author: Caterlyst

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