Poundworld enters administration to put 355 stores at risk of closure

Poundworld

Discount retailer Poundworld has appointed Deloitte as administrators after talks with potential buyer R Capital collapsed.

Poundworld has 355 stores, including those under the Bargain Buys brand, and Deloitte said it will try to sell the business “as a going concern”. However, Poundworld has posted rising losses for the past two years, increasing to a £17.1m loss in the retailer’s latest annual results.

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