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.
This is a brilliant opportunity for an interested buyer to acquiring a thriving Bangladeshi restaurant in a thriving area of London. Longstanding staff. Takeaway and app. Rental income from above flat. Alcohol licence. Busy, affluent area. Offers inv...
LEASEHOLD
Having been established since 1982, this bathroom and plumbing supplies business has grown under the ownership of our clients since it was purchased in 2007. This business boasts an envious reputation and a very strong repeat trade business, it is sa...
A uniquely designed and branded beauty business opportunity offering both male and female ‘Sprucing and Beautification’ services. The business opened its doors 5 years ago and due to the time required by our client on his other business interests is...
LEASEHOLD
|
05
|
|
Jun
|
Azzurri Group exploring options for sale | BUSINESS SALE
Azzurri Group has engaged advisers to explore a potential sa...
|
04
|
|
Jun
|
Frankie & Benny’s owner to permanently close 120 restaurants | BUSINESS NEWS
The Restaurant Group, which owns chains including Frankie & ...
|
03
|
|
Jun
|
28 Oddbins stores saved after acquisition by unnamed buyer | BUSINESS SALE
28 Oddbins stores will remain open after the off-licence ret...
Sign up to receive our acquisition alert emails to get your FREE guide
|
05
|
|
Jun
|
Azzurri Group exploring options for sale | BUSINESS SALE
Azzurri Group has engaged advisers to explore a potential sa...
|
04
|
|
Jun
|
Frankie & Benny’s owner to permanently close 120 restaurants | BUSINESS NEWS
The Restaurant Group, which owns chains including Frankie & ...
|
03
|
|
Jun
|
28 Oddbins stores saved after acquisition by unnamed buyer | BUSINESS SALE
28 Oddbins stores will remain open after the off-licence ret...
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