Jun 6, 2018

Poundworld future in the balance after buyer pulls out

The future of struggling discount retailer Poundworld is in the balance after the main contender to buy the chain pulled out talks. Alteri Investors, whose website says it specialises in "Challenging retail situations", was in advanced talks with Poundworld's owner TPG. Sky News, which first reported Alteri's move, said TPG is talking to other potential buyers. About 100 of Poundworld's 355 shops were already under threat of closure. Poundworld, which employs about 5,300 people, is among many stores on the High Street which have been struggling. TPG, which bought a majority stake in Poundworld in 2015, also controls the restaurant chain Prezzo whose landlords and creditors agreed a restructuring last month.

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