Jun 7, 2018
Poundworld on brink of administration putting 5,300 jobs at risk
Poundworld is poised to announce its intention to appoint administrators. The move will allow the company 10 days to two weeks to continue talks with potential buyers without the company's creditors being able to make a claim on the business. Poundworld is owned by private equity firm TPG. The company has been losing money for the past two years. Like many retailers, Poundworld has been hit by falling consumer confidence, rising overheads, the weaker pound and the growth of online shopping. 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.
Make a complaint about Poundworld by viewing their customer service contacts.