POUNDWORLD could become the latest retail casualty on the British high street after it called in administrators, putting 5100 jobs at risk.
The budget retailer has appointed Deloitte to handle an administration after last-ditch rescue talks with R Capital broke down over the weekend.
Poundworld, which is owned by TPG Capital, has around 350 stores. Its possible collapse comes after both Toys R Us and Maplin fell into administration earlier this year.
READ MORE: Edinburgh's House of Fraser to close amid 6000 job losses
It is understood that TPG and Poundworld's management rejected offers to buy the business out of a pre-pack administration, and were hoping to sell it as a solvent business.
Other parties named as possible buyers were turnaround specialist Alteri Investors and Poundworld's founder Chris Edwards.
But a deal could not be struck.
Poundworld's losses widened in 2016-17 to £17.1 million, from £5.4 million of losses the year before.
The retailer's move would come just days after House of Fraser detailed its plans to shut 31 stores, affecting around 6000 jobs.
House of Fraser is seeking landlord approval for the restructuring plan, which is a form of insolvency known as a Company Voluntary Agreement (CVA).
A raft of CVAs have been struck in recent months as retailers struggle amid surging costs, rising business rates, competition from online rivals and a slowdown in consumer spending.
Other retailers undertaking CVAs in a bid to keep trading include New Look, Mothercare and Carpetright.
Restaurant businesses have also been seeking to cut their costs with store closure programmes, with Carluccio's, Byron and Prezzo all pushing through CVAs this year.
The full list of Poundworld stores is:
Croydon
Leicester Haymarket
Chesterfield Clay Cross
Swindon
Kilmarnock Bargain Buys
Kings Lynn
Bradford Foster Square
Luton
Bradford
Kirkcaldy Fife Central Retail Park
Wrexham
East Ham
Dartford
West Bromwich Bargain Buys
Paisley Bargain Buys
Kettering
Swansea Parc Tawe Bargain Buys
Coventry
Stevenage
Doncaster
Brighton
Newtownabbey
Wolverhampton
Cleveland Bargain Buys
Lewisham
Bradford
Shepherds Bush
Preston Deepdale Shopping Park
Portsmouth
Llanelli Bargain Buys
Livingston
Wakefield
Middlesbrough Bargain Buys
Harrogate
Archway
Newtownards
Bexleyheath
St Albans
High Wycombe
Omagh
Bury
Bristol Bradley Stoke
Newcastle
Nottingham Trinity
East Kilbride
Shrewsbury
Plymouth
Armagh
Craigavon
Belfast Connswater
Burnley
Wood Green
Glenrothes
Rochdale
Sunderland Bridges Shopping Centre
Ashton Bargain Buys
Merry Hill
Hounslow
Woking
Londonderry
Sunderland
Derby West Field
Gloucester
Northampton
Rotherham Bargain Buys
Hednesford
Bedford
Tottenham
Southport
Coventry
Belfast Donegall Place
Orpington
Taunton
Chesterfield Vicar Lane Shopping Centre
Gravesend
Runcorn Bargain Buys
Banbury Cross
Cramlington Bargain Buys
Cardiff
Canterbury
Cumbernauld
Warrington Bargain Buys
Bristol Emersons Green
Leeds
Chelmsford
Bolton Breightmet
Aberdeen Union
Wakefield
Bishop Auckland Extra
Glasgow Forge
Bristol
Nottingham Ladybay
Nottingham Victoria Centre
St Helens
Crawley
Washington
Newcastle Wallsend
Speke
Chester
Ipswich
Denton
Birmingham Stechford
Motherwell
Exeter
Aberdeen Boulevard Retail Park
Cameron Toll
Southend Bargain Buys
Liverpool
Basildon
Gateshead
Bargoed
Newbury
Bristol Extra
Northampton
Harlow
Romford
Belfast City Side Retail Park
Lincoln
Stockton Bargain Buys
Wisbech
Hull
Reading
Swansea Phoenix Retail Park
Clydebank
Irvine
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