Poundland teeters on the edge of collapse within days

Weston-super-Mare’s Poundland, along with all other stores in the UK could collapse within days as the directors recruited to steer Poundland through its emergency sale process less than two weeks ago are on the brink of resigning, heightening the risk that one of Britain's biggest discount retailers will collapse within days, risking thousands of job losses.

The trio of board members appointed less than two weeks ago are expected to quit after a disagreement with Poundland's majority owner, Gordon Brothers.

The dispute, which is alleged to centre on the shareholder's decision not to accept a solvent offer for the company from Martin Property Group, meant that Poundland was increasingly likely to be broken up after being placed into insolvency proceedings.

If it materialised, such a development would threaten thousands of high street jobs, with a filing for administration possible within hours of John Healey's inaugural budget as chancellor of the exchequer.

Poundland, located on the High St in Weston-super-Mare is believed to have around 20 part and full time jobs at risk was the worst to happen just weeks before Christmas.