Poundland on brink of collapse as bosses move to appoint administrators

Discount retailer Poundland is teetering on collapse after its US-based owner Gordon Brothers cut off vital funding and rejected a takeover offer from Irish firm Martin Property Group. Bosses are filing a notice of intention to appoint administrators. UK Prime Minister Andy Burnham said the government is ready to support staff and asked why an offer that would have protected jobs was rejected.