TPG puts Poundworld business up for sale

Mon, 14 May 2018 | BUSINESS SALE

Poundworld has officially been put up for sale by its private equity owner, TPG Capital, according to the latest reports.

The decision to sell the chain of discount high street retailers follows TPG receiving expressions of interest from potential buyers.

Previously, it had been reported that Poundworld was undergoing restructuring in the form of a company voluntary arrangement (CVA), which involved the closure of 100 of its 355 stores across the UK. However, this process has now been shelved as the owners look to sell the business in its entirety instead.

A sale is now expected to be completed within a short period of time to allow the new owner to continue with the CVA if necessary. However, the 5,000 people employed by the chain will no doubt be feeling even more uncertain about their future in light of this latest news, as it is no longer clear how many stores will be closed, if any at all.

The chain reported that its problems stemmed from the fact that it imports a large amount of its stock and that it had been hit by the fall in the value of the pound as a result. It is also suffering as a result of rising overheads, increased online shopping and a fall in consumer confidence - the same issues that have impacted retailers across the country.

TPG Capital has owned Poundworld since 2015 and is also behind the Prezzo chain on Italian restaurant, which has also recently announced its own CVA.


Share this article



Latest Businesses for Sale

Manned Guarding Security Business
Central London, South East, UK

Long time established security business which provides highly trained manned guarding operatives to its blue chip clientele. The company provides a total security solution for its high profile corporate clientele. Operating in the premium sector. Of...

Asking Price: £1,350,000
Turnover: £3,400,000

LEASEHOLD


Print & Embroidery Business
Cambridgeshire, East of England, UK

Operating in excess of 30 years print and embroidery specialists. This is a retirement sale. Offers invited.

Asking Price: £750,000
Turnover: £1,500,000

LEASEHOLD


Large Property Portfolio Business
East Riding of Yorkshire, Yorkshire and the Humber, UK

Large property portfolio. All properties are residential. All properties are in good order. Situated in a compact geographical area. Offers invited.

Asking Price: £6,000,000
Turnover: £480,000


View more businesses for sale

News Search

Latest News

 
18
 
Jul
 
 
17
 
Jul
 

Preston caravan manufacturer seeks buyer following administration | ADMINISTRATION

A caravan manufacturing business in Preston is on the lookou...

 
16
 
Jul
 

Farsound Aviation sold to AGIC for £115 million | BUSINESS SALE

A supply chain management company operating in the aviation ...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
18
 
Jul
 
 
17
 
Jul
 

Preston caravan manufacturer seeks buyer following administration | ADMINISTRATION

A caravan manufacturing business in Preston is on the lookou...

 
16
 
Jul
 

Farsound Aviation sold to AGIC for £115 million | BUSINESS SALE

A supply chain management company operating in the aviation ...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources