From the BBC:
Discount retailer Poundworld has appointed administrators, putting 5,100 jobs at risk.
The move came after talks with a potential buyer, R Capital, collapsed leaving Poundworld with no option other than administration.
Poundworld, which serves two million customers a week from 355 stores, also trades under the Bargain Buys name.
Probably
1 hour ago
3 comments:
What happens to leases in administration? Repossession by the landlord I imagine. Will be interesting to see what rent they get...
Everything for a pound?
But seriously, it's a great gimmick, but it was always going to have a short lifespan simply due to the effects of inflation over time.
M, exactly. The sensible thing to do is cut the rents NOW to a level which allows tenant to still make a profit.
RT, agreed, but see point above.
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