05 Oct 2022

Discount retailer Poundworld, which has a store in Derry, faces collapse after rescue talks fail

The 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 felt it had no option but to put the company into administration. The chain has a store at the Richmond Centre in Derry. Poundworld has been losing money for the past two years. Losses for the financial year 2016-17 were £17.1m, up from £5.4m the year before.

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