Earlier this week, Poundworld officially fell into administration threatening 5100 jobs across 350 stores.
Poundworld could yet be rescued by its founder Chris Edwards, who is considering rebuying part of the business.
Over 5000 jobs are now in danger as Poundworld gets ready to appoint administrators after a failed sales process.
Poundland is due to complete its “supercar-like” roll out of its fashion brand Pep&Co across 300 locations by mid-June.
Poundworld is reportedly on the verge of announcing it would appoint administrators, plunging 5300 jobs into uncertainty.
Poundworld has been thrown back into danger of administration after the leading contender to acquire it pulled out of talks.
The Original Factory Shop has seen its credit insurance pulled by Euler Hermes follows news of planned stores closures.
Matalan has reported growing sales in its yearly results outperforming its larger department store rivals.
Poundworld is reportedly close to a rescue deal with Alteri Investors, with the deal likely to be announced next week.
Poundland has publicly slammed Boots for “overcharging” customers, launching a public campaign to highlight cost disparities.