It appears that they’ve got the trainees in at the Telegraph. Or perhaps the arts graduates have bled over into the business pages – a tragedy really, as that’s where logic and numeracy are at a premium. For we’re told that a business not going bust but instead being sold is a warning that it might go bust.
Thousands of British high street jobs may be under threat now that Poundworld’s US owner has ditched a rescue plan to bring the loss making discount chain back from the brink, opting to sell up instead.
American private equity backer TPG is said to have instructed Deloitte to find a buyer for Poundworld, which employs around 5,500 staff across the UK, by April.
OK, so they’re not going to try to restructure it themselves, but to try to sell it. Why might that be?
TPG decided to put the company up for sale after receiving interest from prospective buyers, a source told Sky News, which first reported on the sale.
Other people are willing to put up good money to buy the whole shebang.
OK, but then what’s this?
But the decision to seek a buyer for the entire business could spell the end for the rescue plan.
Failure to strike a deal within weaks may lead to the discount chain facing administration.
That other people are willing to put up the cash to buy the whole shebang is evidence that it’s about to collapse into total bankruptcy?
Sigh, if business reporting is going to be like this then what hope is there that the rest of us are going to gain an accurate enough grasp of reality?
By the way, yes, the education was at Islington Technical College.