{"id":139409,"date":"2018-06-11T08:29:16","date_gmt":"2018-06-11T08:29:16","guid":{"rendered":"http:\/\/freeonlinetranslators.net\/news\/english\/poundworld-faces-collapse-after-rescue-talks-fail\/"},"modified":"2018-06-11T08:29:16","modified_gmt":"2018-06-11T08:29:16","slug":"poundworld-faces-collapse-after-rescue-talks-fail","status":"publish","type":"post","link":"https:\/\/freeonlinetranslators.net\/news\/english\/poundworld-faces-collapse-after-rescue-talks-fail\/","title":{"rendered":"Poundworld faces collapse after rescue talks fail"},"content":{"rendered":"<figure>                                  <img decoding=\"async\" alt=\"Poundworld shop\" src=\"https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/B7F3\/production\/_101919074_ha8s8etf.jpg\"\/>Image copyright                  PA                                                    <\/figure>\n<p class=\"caps\">Discount retailer Poundworld is expected to appoint administrators, putting 5,100 jobs at risk.<\/p>\n<p>Talks with a potential buyer R Capital have collapsed meaning that the owner TPG felt it had no option but to put the company into administration. <\/p>\n<p>Poundworld, which has 355 stores, and serves two million customers a week, also trades under the Bargain Buys brand name.<\/p>\n<p>Deloitte is expected to be appointed to oversee the administration. <\/p>\n<p>It will be hoping to sell the business as a going concern.<\/p>\n<ul>\n<li>Six reasons behind the High Street crisis<\/li>\n<li>Five things to do with empty retail space<\/li>\n<\/ul>\n<p>Poundworld has been losing money for the past two years. Losses for the financial year 2016-17 were \u00a317.1m, up from \u00a35.4m the year before.<\/p>\n<p>Like many retailers, Poundworld has been hit by falling consumer confidence, rising overheads, the weaker pound and the growth of online shopping.<\/p>\n<p>Retailers including House of Fraser, Maplins, Toys &#039;R&#039; Us, Mothercare, Carpetright plus a string of restaurant chains have hit the headlines this year because of trading trouble.<\/p>\n<p>Poundworld, which has its headquarters in West Yorkshire, was formed in 2004, but it says it can trace its origins &quot;back to 1974 and a market stall in Wakefield, West Yorkshire&quot;.<\/p>\n<p>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.<\/p>\n<p>A formal administration announcement will be made at 10am when the court opens.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image copyright PA Discount retailer Poundworld is expected to appoint administrators, putting 5,100 jobs at risk. Talks with a potential buyer R Capital have collapsed meaning that the owner TPG<\/p>\n","protected":false},"author":1,"featured_media":139410,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-139409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english"],"_links":{"self":[{"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/posts\/139409","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/comments?post=139409"}],"version-history":[{"count":0,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/posts\/139409\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/media\/139410"}],"wp:attachment":[{"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/media?parent=139409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/categories?post=139409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/tags?post=139409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}