TPG puts British discount retailer Poundworld up for sale

Private equity group TPG has put British discount chain Poundworld up for sale after receiving expressions of interest for the struggling retailer, a person familiar with the matter said on Saturday.

Poundworld had been due to launch a Company Voluntary Agreement which would allow it to restructure and close some stores as it battles a tough retail environment.

The source, who declined to be named, said the CVA process had now been postponed while TPG explores a sale.

The possible sale was first reported by Sky News. The source said information on Poundworld had been sent to a variety of potential buyers and there were early signs of interest.

No one at TPG was immediately available for comment.