Discount giant Poundworld to appoint administrators as talks collapse
MORE than 5,000 jobs are at risk as Poundworld's eleventh hour talks collapsed.
The firm is expected to appoint administrators and it is not yet known what will happen to staff, according the BBC.
Read more: Poundworld goes bust putting 5,300 jobs at risk
As previously reported by the Evening Times, the administration will be handled by Poundworld's advisers Deloitte.
Poundworld, which is owned by TPG Captial, had previously rejected offers to sell through a pre-pack but all options are now being considered.
More to follow.
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here