Poundworld reported to be considering the appointment of administrators

Poundworld store

But this restructuring was put on hold by TPG, a U.S. private equity firm, after it received expressions of interest in the company.

Today's announcement comes as Britain's high street faces a crisis amid an onslaught from online rivals - and came on the same day that House of Fraser announced 6,000 of its employees are at risk of losing their jobs as it plans to close more than half of its stores in a bid to save the company.

The administration is expected to be handled by Poundworld's advisors Deloitte.

United States firm Flacks, which had expressed interest, is also understood to no longer be a contender.

Trump wants Russian Federation invited back to G7, roiling Trudeau's Quebec summit
Donald Trumps's decision to pull out of the Iran nuclear deal also demonstrated his reluctance to toe the line of his allies. The US president has frosty relations with Canadian Prime Minister Justin Trudeau, the summit host.

Any takeover would nevertheless involve the closure of well over 100 stores and lead to thousands of job losses.

Poundworld, which is owned by TPG Captial, had previously rejected offers to sell through a pre-pack but all options are now being considered.

A potential buyer for troubled discount retailer Poundworld is understood to have walked away from talks, with the company potentially set to appoint administrators if a deal can not be completed.

The move will allow the company 10 days to two weeks to continue talks with potential buyers without the company's creditors being able to make a claim on the business.

Dwane Casey, Ime Udoka are finalists to become head coach of Pistons
The extension is two years, makes his previous three-year contract now a five-year deal that runs through 2023. John Beilein is staying at MI after talking with the Detroit Pistons about their coaching vacancy.

Several retailers have shown significant financial distress this year, with both Maplin and Toys R Us disappearing from the high street.

TPG, which bought a majority stake in Poundworld in 2015, also controls the restaurant chain Prezzo whose landlords and creditors agreed a restructuring last month.

Alteri, Poundworld and TPG all declined to comment on Wednesday.

Poundworld opened its Richmond Centre shop in the summer of 2013 creating over 30 jobs in the process.

NASA to announce new Mars rover discoveries
For the first four years, the nuclear-powered rover operated longer and better than expected, but in December 2016, a problem occurred.

Related News:

  • No revenge for Keys as Stephens cruises into French Open final

    No revenge for Keys as Stephens cruises into French Open final

    Although they will face each other in a high-stakes match, they acted as they always do around each other in the past few days. The victor will play either top-seeded Simona Halep or third-seeded Gabine Muguruza for the title Saturday.
    'Apprentice' contestant's lawsuit against Trump to proceed - NY judge

    'Apprentice' contestant's lawsuit against Trump to proceed - NY judge

    Judge Jennifer Schecter refused to put the case on hold while lawyers for Trump ask New York's top court and possibly the U.S. As for information about other women who are not part of the case, "those claims, that evidence ... is irrelevant", he said.
    Muguruza easily routs Sharapova, sets up French Open semifinal with Halep

    Muguruza easily routs Sharapova, sets up French Open semifinal with Halep

    Rafa Nadal , who lost the opening set 6-4 against Diego Schwartzman , broke back and led 5-3 lead in the second set. It came on a rain-affected day in which neither of the scheduled men's quarter-finals came close to completion.
  • Jennifer Lawrence 'comfortable' with new beau

    Jennifer Lawrence 'comfortable' with new beau

    Internet sleuths have also uncovered photographs of Lawrence's rumored new beau at a party in the Hamptons. Jennifer Lawrence has been dating Manhattan art gallery director Cooke Maroney , Page Six reported .
    Muhammad Ali's lawyer responds to President Trump's pardon offer

    Muhammad Ali's lawyer responds to President Trump's pardon offer

    Trump reportedly said football players have "seen a lot of abuse" as well as "a lot of unfairness" and he wants their input. Ali's legal fight ended in 1971, when the Supreme Court ruled in his favour, reversing his conviction on a technicality.
    Essential Phone gets Audio Adapter HD mod with 3.5mm jack

    Essential Phone gets Audio Adapter HD mod with 3.5mm jack

    First, it lets you use your favorite 3.5mm headphones with the Essential Phone without having to worry about a USB-C adapter. Owners of the Essential Phone can get a 3-month subscription to TIDAL , and you might want headphones to enjoy that.
  • Witness says gator dragged woman into lake

    Witness says gator dragged woman into lake

    The pond is in a park near the Seminole Hard Rock Hotel & Casino, a major Miami-area tourist and entertainment attraction. Myrna Bernard and her daughter Rachel Bernard, 18, live south of the pond and said alligator sightings are not rare.
    The Advice CM Punk Gave Ronda Rousey Before Her WWE Debut

    The Advice CM Punk Gave Ronda Rousey Before Her WWE Debut

    CM Punk is a legend in the world of professional wrestling, but he's still getting his feet on the ground in mixed martial arts. I barely go to Punk shows any more, you know, because like, being in a crowd of people I'm like ehh [hunches down].
    Halloween trailer: Michael Myers is back, Laurie Strode plans a slaying

    Halloween trailer: Michael Myers is back, Laurie Strode plans a slaying

    After numerous sequels and Rob Zombie's controversial remakes, the Halloween franchise needed a boost. "But there are a lot of people who love it, and they're gonna love this movie".
  • Bay Area Woman Gored By Bison At Yellowstone National Park

    Bay Area Woman Gored By Bison At Yellowstone National Park

    She was transported by paramedic ambulance to the Big Sky Medical Center in Big Sky, Montana, reportedly in "good" condition. The second visitor in three days was hurt in an accidental encounter with a cow elk Tuesday at Yellowstone National Park.
    How to get help for someone who might be suicidal

    How to get help for someone who might be suicidal

    These high-profile deaths come the same week the CDC reported suicide rates in the USA have risen almost 30 percent since 1999. If you or someone you know may be contemplating suicide, call the National Suicide Prevention Lifeline at 1-800-273-8255.
    Him Too: 'Today' Makes Hay Out Of Clinton #MeToo Interview 06/07/2018

    Him Too: 'Today' Makes Hay Out Of Clinton #MeToo Interview 06/07/2018

    After the crowd laughed, Clinton continued: "Here is what I want to say: It wasn't my finest hour". Clinton explained his frustrations came not from the question, but from how it was phrased.


Most liked

USA launches Artificial Intelligence programme to detect hidden nuclear missiles
Google said Thursday that it would not let its artificial intelligence (A.I.) tools be used for deadly weapons or surveillance. Defense Department came under fire from company employees concerned about the direction it was taking the company.

Deandre Ayton is certain he’ll be the No. 1 pick
"It's a big day for the franchise in terms of having the number one pick and working out Deandre Ayton for the number one pick". The fact that he wants to be here, that's great". (For more sports coverage, visit the ABS-CBN Sports website ).

Athenahealth (ATHN) Given a $160.00 Price Target by Citigroup Analysts
Goldman Sachs Gp Inc invested 0.02% of its portfolio in athenahealth, Inc . 11,210 are held by Menta Capital Limited Liability. Berenberg has "Hold" rating and $163 target. (NASDAQ:ATHN) earned "Hold" rating by Cantor Fitzgerald on Wednesday, February 7.

Oil gains on Venezuela export cuts, OPEC production levels
United States crude oil production hit another record last week at 10.8 million barrels per day (bpd). For the week, Brent was set to fall 0.2 percent, while USA crude was little changed.

Children get bulletproof shield 'graduation gift' before starting high school
Amid a slew of school shootings in recent years, schools are sadly forced to prepare their students for the future in unique ways. Cornelius Catholic School, Pennsylvania, received ballistic shields for their backpacks as their graduation gift Monday.

Why slower cyclones are bad news for us
The Atlantic Basin remains inactive and the storm now has a zero threat to life or land. The trend has all the signs of human-caused climate change , Kossin said.

Leaked concept art of Avengers 4 reveals team roster and uniforms
Captain Marvel is seen in a blue-and-red coloured suit as compared to her green suit seen in set photos from her solo movie. While you are still not over Avengers: Infinity War , the recently leaked image from Avengers 4 is already here.

Imran's party puts on fearless face after Reham bouncer
While she didn't name them, Reham insists that there are specific incidents of sexual misbehaviours mentioned in the book. The pages between 402 and 572 from the book have been supposedly leaked online containing the damaging allegations.

Kim Kardashian Blasted By Director For Freeing Alice Johnson; It's "PR Points"
But despite meeting the criteria, Johnson's case for clemency had previously been denied on three separate occasions. Johnson was convicted in 1996 of conspiracy to possess cocaine and attempted possession of cocaine.

Pippa Middleton confirms pregnancy
She said: "I was lucky to pass the 12-week scan without suffering from morning sickness". The fitness fan also revealed how her body has changed during pregnancy.

Doctors hope experimental drug combo will increase immune response to breast cancer
The study was funded by the National Cancer Institute, some foundations and proceeds from the US breast cancer postage stamp. Genetic mutations in cells are cancer's trigger, causing those cells to grow out of control.

Trump considering posthumous pardon for Muhammad Ali
Trump said that he wasn't thinking about pardoning either man, as neither has yet been convicted of a crime. The latest potential recipient of his largesse is the late boxing icon Muhammad Ali , Trump said Friday.

What's new for Messages and FaceTime in iOS 12
It also comes with new parental controls that let parents view how their child is spending their time in apps and set time limits. In another feature, notifications will be grouped, meaning fewer of them will flood iPhone home screens.

Fury Considers Seferi Fight Like A Title fight
Fury intends to box up to four more times in 2018 and thinks he could be challenging for world honours before the year is out. If he's knocked out 21 men before, if he gets it on me he'll knock me spark out too.

Trump Says He May Pardon Late Boxing Champion Muhammad Ali
Trump has also previously floated pardoning Martha Stewart and a commuting the 14-year sentence for ex-Illinois Gov. President Donald Trump says he may pardon another late heavyweight boxing champion - this time, Muhammad Ali .