Founder’s last-gasp bid to rescue Poundworld

THE founder of Poundworld is putting together a rescue package to prevent its collapse after a potential buyer walked away from rescue talks.

Chris Edwards, pictured, built the chain from a market stall and is understood to be mulling a bid to buy it back from private equity owner TPG Capital.

Poundworld is so low on cash that insiders fear it may have to call in administrators within days, putting 5,300 jobs at risk. Yesterday it emerged Alteri Investors had walked away from sale talks. An option would be an Edwards rescue, although others are said to be interested as well.

Edwards, 67, founded Poundworld in 1974 and he and his family pocketed millions when it was sold to TPG in 2015 for £150m. Poundworld losses in 2016/17 were £17.1m.