Sources close to Poundworld’s administrators have advised caution over reports today that 50 branches of the discounter chain have been saved from closure.
Reports of a last-minute reprieve for the chain emerged after an Irish family issued a statement saying administrators had accepted its bid for stores.
The Henderson family said Deloitte had accepted an offer for the “best and remaining stores for an undisclosed sum”.
Ray Henderson founded an unrelated chain called Poundworld in Ireland in 1984 before selling it in 2007.
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“We are delighted to have agreed the purchase of Poundworld,” said his son David, who led negotiations according to the statement. “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.”
But a source close to Deloitte said the agreement was only in principle and the bid was for just 35 stores without stock or staff, meaning redundancies of remaining employees would go ahead.
The news has unfolded on the day before the last of Poundworld’s 335 stores are due to have closed, tomorrow. The chain employed around 5,100 people when it went into administration on 11 June.
The Hendersons’ bid for 35 vacant branches could be finalised by Monday, the source said.
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