Poundworld could be saved after all

POUNDWORLD UK has been purchased by Dublin retailing family the Hendersons, who opened Ireland’s original Poundworld store in 1984.

David Henderson confirmed their offer had been accepted by administrators Deloitte yesterday to buy the best and remaining stores for an undisclosed sum.

Poundworld UK, which was bought by US TPG Capital in 2015 for £150m, collapsed into administration in June, closing more than 250 stores, with the loss of 4,000 jobs.

Ray Henderson sold his original Poundworld back in 2007.

His son, David, who has experience in the retail sector in Ireland and the US, led negotiations and said: ‘We are delighted to have agreed the purchase of Poundworld and we now look forward to bringing the company back to profit and providing current and new customers with an unrivalled product offering at low price.’

The Hendersons have formed a UK entity, RVP Holdings Limited, to operate the business. Poundworld turned over nearly £500m in 2017 with 6,000 employees in 337 stores.