Discount chain on the market
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