Jobs on the line as Poundland poised to appoint administrators

Poundland’s directors are poised to appoint administrators as the beleaguered discount retailer staggers towards collapse.  The company is preparing to make a filing to the High Court, which could come as soon as Wednesday evening, which would fire the starting gun on its race to find buyers for its assets and new homes for its nearly 12,000 staff.  Poundland had been considering a solvent takeover offer from Irish property firm Martin Property Group but has since distanced itself from the bid in a row over cash. The retailer is instead edging towards insolvency and intends to appoint New York-headquartered consultancy AlixPartners to run its administration process, sources said. This appointment of administrators would trigger a 10-day moratorium on its creditors calling in their debts, allowing it a short window in which to save its stores and employees. The filing would not mean that Poundland is destined for total collapse but the decision by its owners, American