Poundworld future in the balance after buyer pulls out

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Found 6th Jun
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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
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7 Comments
Does anyone know how much it would be to buy it? Perhaps we could all club together
Not too surprising, in recent years they've just become another discount retailer with a range of price points which other chains such as Home Bargains and B&M do so much better anyway. Since Chris Edwards left the stores are often a complete mess too, like nobody really seems to care that much any more.
less workers need top-up in social benefits in doing low value tasks...
Toptrumpet1 h, 2 m ago

Does anyone know how much it would be to buy it? Perhaps we could all club …Does anyone know how much it would be to buy it? Perhaps we could all club together


put me down for a quid.
Toptrumpet4 h, 51 m ago

Does anyone know how much it would be to buy it? Perhaps we could all club …Does anyone know how much it would be to buy it? Perhaps we could all club together



5,300 employees, say £135 million for 2 years, calculated on 5,300 X £25,500, to buy
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Their trouble started when their rags-to-riches owner did a "Philip Green", wealth extraction. Chris Edwards extracted £75m and left "the tumour" like you need a hole-in-your-head.
an editor has posted the update but really should have posted here, abput to call in the administrators

thisismoney.co.uk/new…tml
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