Poundworld future in the balance after buyer pulls out
Found 6th Jun 2018
The future of struggling discount retailer Poundworld is in the balance after the main contender to buy the chain pulled out of talks.
Alteri Investors, whose website says it specialises in "challenging retail situations", was in advanced talks with Poundworld's owner TPG.
Poundworld's founder Chris Edwards is understood to be among other possible bidders for the 355-shop chain.
He sold out to TPG for £150m, and later took over at rival Poundstretcher.
Sky News, which revealed Alteri's move, said US firm Flacks, which expressed interest in Poundland, was no longer considered a contender.
About 100 of Poundworld's outlets were already under threat of closure. But this restructuring was put on hold by TPG, a US private equity firm, after it received expressions of interest in the company.
Poundworld, which employs about 5,300
people, is among many stores on the High Street which have been struggling.
full story bbc.co.uk/new…097