Future of Poundworld, which has a massive store in Derry, at risk after it fails to find new buyer

Poundworld is facing the threat of administration after buyer pulled out before the company’s next rent payment.

More than 5,000 jobs may now be at risk.

The chain has an outlet at the Richmond Centre in Derry.

Sources said that TPG Capital, Poundworld’s owner, did not intend to put more money into the group, which has 355 stores.

No serious buyers had come forward by the deadline of Monday this week, giving the company littler options but to call in the administrators.