After Alteri Investors pulled out of negotiations
Struggling British retailer Poundworld is facing fresh troubles after the main contender to buy the chain has walked out of talks, throwing the future of its 5,300 staff into doubt.
Alteri Investors, the backer of troubled chains such as Brantano and Jones Bootmaker, was reportedly in discussions over a possible rescue deal but it pulled out of negotiations over the weekend.
Another US firm Flacks, which expressed interest in Poundland, is no longer said to be a contender.
Poundworld founder Chris Edwards is said to have been attempting to put together a rescue bid for a chunk of the company. In the event of no sale being reached, it is likely Poundworld could be sold in a pre-pack administration agreement, according to media reports.
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