Poundworld buyer pulls out

The future of discount retailer Poundworld has been cast into doubt following Alteri Investors withdrawal from their buyout.

Other bidders are queuing up however with founder Chris Edwards rumoured to be considering re-acquiring the 355-store chain. He sold the chain to TPG for £150m and then took over at rivals Poundstretcher.

As many as 100 Poundworld stores were due to face closure as part of restructuring plans, this was but on hold by TPG however after the firm received bids for the chain.

Poundworld employs 5,300 people with doubts cast over many jobs after the withdrawal news.