Poundworld collapses into administration

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Discount retailer Poundworld has appointed administrators, putting 5,100 chores at risk.

The move came after talks with a potential customer, R Capital, collapsed leaving Poundworld with no option other than administration.

Poundworld, which serves two million patrons a week from 335 stores, likewise trades for the purposes of the Bargain Buys name.

Administrators Deloitte stress the stores will continue to trade as normal with no redundancies at this time.

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