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Job fears as Poundworld expected to go into administration

Job fears as Poundworld expected to go into administration

Published by Emma Carton at 9:16am 11th June 2018. (Updated at 12:06pm 11th June 2018)

It is claimed Poundworld will go into administration after rescue talks collapsed.

According to reports from Sky News, almost 5,000 fresh jobs will be thrown into doubt on Monday.

The chain has stores in Bude, Plymouth and Exeter but we do not know if or how they will be affected.

Deloitte has been co-ordinating efforts to find a solvent deal for the business and is expected to oversee the administration.

A source told Sky discussions between owners TPG Capital and Rcapital about a rescue deal had fallen apart over the weekend.

You can read more here.

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