5 100 retail jobs could be at risk

BRITISH discount retailer Poundworld has gone into administration, putting 5 100 jobs at risk and becoming the latest victim of brutal trading conditions, with cash-strapped consumers and a major shift to online shopping in the UK retail sector. Business services firm Deloitte said yesterday it had been appointed as Poundworld’s administrator. Private equity group TPG Capital, Poundworld’s majority owner, put the discount retailer up for sale last month but has failed to find a buyer. Deloitte said Poundworld, which operates 335 stores across Britain, would continue to trade while a buyer for all or part of the business is sought. There would be no immediate store closures. – Reuters/ African News Agency (ANA)

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