Edwards gives a pounding

THE founder of Poundworld has blamed poor management for its demise as the discount chain’s last remaining stores close this week.

Chris Edwards grew the business from a market stall to 300-plus units before selling it to private equity in a £150million deal. He failed to save 186 stores after it went into administration. Deloitte said no party had presented a “credible and acceptable bid”.

Edwards said: “They started selling multi-price products ignoring Poundworld’s unique selling point, which was its amazing range of products all priced at just a pound.

“Customers found this confusing.”