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.
Presenting an opportunity to acquire a very profitable plumbers and heating merchants business operating nationwide.
Popular and well-regarded Sushi and Ramen restaurant and takeaway, which is situated in a prime city centre location in Norwich. The premises are set over three floors and are presented to an extremely high standard throughout and offers the opportun...
LEASEHOLD
Established respected business, holding valuable private and public sector client base, there being a number of key clients, some paying a retainer and from which regular repeat business is received ensuring a substantial pipeline figure.
26
|
Apr
|
Major double glazing firm Everest enters administration | ADMINISTRATION
Everest, one of the largest providers of double-glazing in t...
26
|
Apr
|
Kent-based scientific consultancy sold to US firm | BUSINESS SALE
A4P Consulting Limited, a scientific consultancy company hea...
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
26
|
Apr
|
Kent-based scientific consultancy sold to US firm | BUSINESS SALE
A4P Consulting Limited, a scientific consultancy company hea...
25
|
Apr
|
New private equity owner for fleet hire firm | BUSINESS SALE
West Lancashire-based fleet hire business NRG Riverside has ...
25
|
Apr
|
Tile business sold to management team by Norcros | MBO/MBI
Johnson Tiles UK, a tile business based in Stoke-on-Trent, h...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.