Poundland is saved from collapse with restructure plans

POUNDLAND has avoided entering administration after a restructuring plan was approved by a judge at the High Court, days before the company was due to run out of money.

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Barristers for the Walsall-based retailer had told a hearing that it would be placed into administration by Friday and was set to run out of money by September 7 if the plan was not

approved. The scheme will see up to £60 million of new funding injected to keep the retailer afloat, among other terms.