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Struggling Poundworld to ‘enter administration’

by LLB Reporter
7th Jun 18 11:40 am

Putting 5,300 jobs at risk

According to latest reports, Poundworld is poised to appoint administrators, putting around 5,300 jobs at risk. The move, BBC reports, will allow the struggling company 10 days to two weeks to continue talks with potential buyers without the creditors being able to make a claim on the business.

The potential administrator, Deloitte, is understood to be standing by if the company fails to find a buyer.

It is understood that the discount chain is low on cash.

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