POUNDWORLD could be saved at the last minute by an Irish family who plan to keep 50 stores going across the UK, but thousands will still lose their jobs.
The Henderson family, who founded Poundworld in Ireland, have submitted a plan to the administrators Deloitte which is believed to have been agreed.
A source from the accountancy firm indicated that while a deal in principle had been agreed nothing had been finalised.
But the proposed deal will not stop the jobs of current Poundworld staff being lost.
The remaining stores were set to close on Thursday afternoon.
The proposed deal does not include any stock sold by the store, meaning that if some of the stores were to be re-opened the owners would have to hire staff and restock the shelves.
There is no obligation for the new owners to keep on the existing staff.
Poundworld UK was bought by US TPG Capital in 2015 for £150million but went into administration in June, putting 5,000 jobs at risk.
Since then more than 250 stores have already closed and the loss of 4,000 jobs.
The Hendersons have formed the UK company RVP Holdings, which they hope will run the retail outlet.
Deloitte had hoped to find a buyer for all parts of the company but Clare Boardman, one of the partners running the administration, said it this had not been possible.