Poundworld’s store in Peckham, south London, ran out of tea bags shortly after the discount retail chain filed for administration last Monday — a poignant symbol of its rapid demise.
“It’s such a shame what’s going on,” said Ali Djilali, the manager, who was continuing to serve customers while insolvency professionals from Deloitte searched for a white knight.
TPG Capital, the private equity firm responsible for the shift in strategy, must have been equally surprised by Poundworld’s collapse.
