British discount retailer Poundworld goes into administration

• British retailer Poundworld has gone into administration
• The company trades from 335 stores across the country
• The administration puts 5,100 jobs at risk

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 Capital, trades from 335 stores across the country and its administration puts about 5,100 jobs at risk.