Trouble in store: Poundworld founder attacks owner TPG

Poundworld’s founder Chris Edwards has criticised how the retailer was run before it collapsed, claiming the business was“very badly managed” by its private equity owner TPG Capital. Edwards founded Poundworld in 1974 and sold it to TPG for £150 million three years ago. The final stores are set to close this week after the chain fell into admin- istration on 11 June. Edwards, who tried to buy around 180 stores out of administration, said: “The new owners made expensive decisions that the business couldn’t take.”