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High Street

Irish retail family in talks to save Poundworld

Poundworld could be saved in a last minute rescue as an Irish retail family is in talks with its administrators to purchase some of the stores.

The Hendersons founded Irish company Poundworld in 1984 and sold it in 2007. The retail chain has no relation to the Poundworld UK.

The family plan to save around 50 stores and David Henderson has been involved with the retailers administrator Deloitte regarding the deal. The Hendersons made an offer for “the best and remaining stores” and plan to keep the same branding.

Henderson said: “We are delighted to have agreed the purchase of Poundworld and we now look forward to bringing the company back to profit and provide current and new customers with an unrivalled product offering at low prices.”

However, sources told Retail Sector said the sale is not yet confirmed. If the deal were to go ahead, stores will still shut as planned and there is no guarantee that existing jobs will be saved.

The stores would reopen under the Poundworld brand and the new owners would be in charge of staffing and obtaining stock.

The discount retailer appointed administrators in June after it failed to find a buyer. So far, 145 of its 335 stores have shuttered and the remaining 190 are set to close today (Friday 10 August).

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