Poundland has filed a notice of intention to appoint administrators, and bosses are meeting for crunch talks on Wednesday as the high street retailer faces potential store closures across the UK.
Notice filed last week
The popular retailer filed the notice last week, signalling that it could be on the brink of collapse. The move allows the company a period of protection from creditors while it assesses its options.
Poundland operates hundreds of stores across the UK, and the news has raised concerns about the future of its high street presence.
Crunch talks on Wednesday
Bosses are meeting on Wednesday for urgent discussions about the company's next steps. The outcome of these talks could determine whether stores remain open or close down.
This is a breaking story, and more details are expected to follow as the situation develops.
