Jobs at risk as Poundworld heads for administration

Credit: PA

Poundworld is expected to crash into administration this morning after last-ditch sales talks broke down, putting 5,100 jobs at risk.

The budget retailer was in talks with private equity firm R Capital over the weekend, but is now calling in administrators at Deloitte after talks broke down.

Poundworld has around 350 stores, including those in Norwich, Kings Lynn, Ipswich, Wisbech, Braintree, Chelmsford, Cambourne, Bedford, Stevenage, Harlow, Luton, Dunstable, Northampton, Kettering, Corby and Peterborough.