Poundworld is lining up restructuring advisers as the private-equity-owned discount retailer struggles amid “brutal” trading.
The chain of more than 350 stores, owned by American buyout titan TPG Capital, is understood to have invited company doctors from firms including Deloitte and Alvarez & Marsal to pitch for the turnaround role.
Poundworld is the latest high street chain to suffer amid high inflation and stagnating consumer confidence. It posted losses of £17.1m in the year to the end of last March. Figures were inflated by almost £6m of provisions for leases on loss-making stores.
