Budget retailer Poundworld, owned by US private equity firm TPG Capital, has been put up for sale.
According to Sky News, TPG has instructed Deloitte to find a new owner for the discount chain by the end of the month.
Last month Poundworld’s future was under scrutiny after reports that it was preparing to seek approval to close up to 100 stores.
However, a source close to TPG said that the company has decided to sell instead, after receiving interest from potential buyers.
©Poundworld // Miss Beauty London offers make-up for £1 per product
Poundworld sells a variety of consumer goods for £1 including the Miss Beauty London make-up range.
The range is made in the UK and exclusive to Poundworld, with 100 skus including products for eyes, lips, face and more.
Poundworld operates approximately 355 stores in the UK, with around 5,700 employees.
