Poundworld considers CVA
The value retailer seeks company voluntary agreement in face of growing overheads
Poundworld is eyeing a company voluntary agreement, and is expected to announce terms next month.
Hit by falling consumer confidence and growing overheads, the value retailer reported a pre-tax loss of £17.1m in the first three months of the year.
Bosses will likely look to close loss-making stores and agree more favourable terms with landlords - similar to the CVAs recently entered by Toys R Us and Maplin.
Sky News said sources indicated around 100 stores would be axed, a little under a third of its 355 store estate. The company employs about 5,500 people.