Dis­count chain on the mar­ket

The Sunday Post (Newcastle) - - NEWS -

Dis­count shop Pound­world has been put up for sale by its owner, pri­vate eq­uity firm TPG, it is un­der­stood.

The chain had been look­ing at clos­ing about 100 of its 355 stores as part of a re­struc­tur­ing plan, as it bat­tled a tough re­tail en­vi­ron­ment.

It is be­lieved the res­cue plan has now been put on hold with the chain be­ing put up for sale in­stead.

Pound­world, which em­ploys about 5,550 peo­ple, has its base in West York­shire and was started by Christo­pher Ed­wards, who opened his first high street store in 2004.

The for­mer York­shire mar­ket stall trader and his son pock­eted more than £75 mil­lion when it was sold to US firm TPG in 2015.

Pound­world is up for sale

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.