With the current troubles facing Poundworld on the High Street, there’s also a danger that a supplier for ecommerce merchants could also be impacted. Discount Warehouse run by ITP Imports is a part of the Poundworld Retail Group.
Daniel Butters and Clare Boardman, who are restructuring partners at Deloitte, have been appointed as joint administrators to Poundworld Retail Limited and unless there is a last minute rescue deal PoundWorld will disappear from our high streets and that will almost certainly leave ITP Imports without their single biggest customer.
It’s possible that Christopher Edwards, the founder of Poundworld, could step in and buy back some of the high street chains stores, but this would be dependant on him raising finance from third parties. He has been quoted as being dismissive of the management since he sold the chain in 2015, pointing out that similar retailers such as Wilko, B&M and Home Bargains all appear to be prospering in the difficult retail climate.
Failing a rescue, it’s likely that all 335 high street stores will close with the loss of over 5,000 jobs.
Currently the stores are continuing to operate and so is the Discount Warehouse website, so if you’re after some bargain priced stock to sell on marketplaces take a look at what’s available. Minimum orders are just £500.
