Discount store's future hanging in the balance

Poundland's future is hanging in the balance as the discount chain edges towards collapse.

The retailer's bosses have filed a notice of intention to appoint administrators which will give the business 10 days to find a rescue deal.

There are currently five stores in our area who’s staff were told that the US owner had cut off a vital supply of funding despite strong sales. 

It is understood the firm's owner, Gordon Brothers, wants to break it up, with rivals Poundstretcher, B&M and Lidl interested in potentially buying up its stores.