May 12, 2018 / 11:10 AM / 14 days ago

TPG puts British discount retailer Poundworld up for sale

LONDON, May 12 (Reuters) - 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. (Reporting by Kate Holton Editing by Alexander Smith)

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