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.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here