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Poundworld, which has a store in Ipswich, expected to become latest retailer to collapse

PUBLISHED: 10:51 11 June 2018 | UPDATED: 10:51 11 June 2018

Poundworld in Ipswich Picture: MATT STOTT

Poundworld in Ipswich Picture: MATT STOTT

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Poundworld, which has a store in Ipswich, expected to become latest retailer to collapse

Poundworld is expected to crash into administration this morning after last-ditch sales talks broke down, putting 5,100 jobs at risk.

The budget retailer was in talks with private equity firm R Capital over the weekend, but is now calling in administrators at Deloitte after talks broke down.

Poundworld has around 350 stores across the UK, including a branch in Tavern Street, Ipswich.

It is understood that Poundworld’s owner, TPG Capital, rejected previous offers to buy the business out of a pre-pack administration.

Deloitte is likely to run another sale process once appointed as administrator.

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