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British discount retailer Poundworld goes into administration

Reuters - UK Focus

LONDON, June 11 (Reuters) - British discount retailer Poundworld has fallen into administration, a form of creditor protection, administrator Deloitte said on Monday, becoming the latest victim of brutal trading conditions on the UK high street.

Poundworld, majority owned by private equity group TPG (Taiwan OTC: 6521.TWO - news) Capital (Other OTC: CGHC - news) , trades from 335 stores across the country and its administration puts about 5,100 jobs at risk. (Reporting by James Davey; editing by Michael Holden)