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 335 stores, also trades under the Bargain Buys name. Administrators Deloitte stress the stores will continue to trade as normal with no redundancies at this time. It said in a statement: "Like many high street retailers, Poundworld has suffered from high product cost inflation, decreasing footfall, weaker consumer confidence and an increasingly competitive discount retail market. Poundworld has been losing money for the past two years. Losses for the financial year 2016-17 were £17.1m, up from £5.4m the year before.
