Poundland's future hangs in the balance as chain edges towards collapse

The future of Poundland hangs in the balance as the discount chain edges towards collapse, the BBC understands.

The retailer has filed a notice of intention to appoint administrators, which if approved by the High Court, will give the business 10 days breathing space to find a rescue deal.

Poundland's managing director Barry Williams wrote a memo to his 12,000 staff across its 600 stores in the UK and Ireland saying the American owner of the chain had limited the…