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.
Excellent level of service delivery and support. Well trained staff offering a wide range of services. Excellent reputation. High quality, central premises. Offers invited.
LEASEHOLD
Specialises in the creation of imaginative and unique marketing collateral for clients operating within the social care sector. The company’s enthusiastic and responsive team produces print and digital marketing collateral, reflecting its clients’ br...
LEASEHOLD
A superb opportunity has arisen for a new buyer to acquire a well-established Plastering business - plus the freehold on a building containing an office and recently refurbished apartment. The business has developed an enviable reputation throughout...
FREEHOLD
|
21
|
|
Feb
|
Street food catering firm seeks buyer after entering administration | ADMINISTRATION
Shrewsbury-based catering company MPM Catering has entered a...
|
20
|
|
Feb
|
Heycar acquires HonestJohn.co.uk following administration | BUSINESS SALE
Online used car service Heycar has purchased the independent...
|
19
|
|
Feb
|
On-demand laundry app snapped up after administration | BUSINESS SALE
Laundrapp, an on-demand laundry service which was touted as ...
Sign up to receive our acquisition alert emails to get your FREE guide
|
21
|
|
Feb
|
Street food catering firm seeks buyer after entering administration | ADMINISTRATION
Shrewsbury-based catering company MPM Catering has entered a...
|
20
|
|
Feb
|
Heycar acquires HonestJohn.co.uk following administration | BUSINESS SALE
Online used car service Heycar has purchased the independent...
|
19
|
|
Feb
|
On-demand laundry app snapped up after administration | BUSINESS SALE
Laundrapp, an on-demand laundry service which was touted as ...
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