Jun 7, 2018

Poundworld sets deadline to find buyer or fold

Discount retailer Poundworld has given itself 10 working days to find a buyer, without which it will head into administration. Deloitte will be the administrator if no buyer is found. Rcapital is believed to be the only bidder looking at a "Solvent sale" of Poundworld. Its single price point of £1 makes it hard to pass on additional costs, meaning they eat into already thin margins. Previous attempts to broker a sale, including to distressed business specialist Alteri, have ended without agreement.

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