Ministers are set to meet with Poundland bosses this week as the government explores ways to avoid the devastating collapse of the struggling high street chain.
The Times reports Business Minister Kate Dearden is to meet with Poundland's Chief Executive Barry Williams and Finance Chief Shaun Wills to hold crisis talks.
Poundland filed a notice of intent to appoint administrators on Thursday last week, placing as many as 12,000 jobs across 600 stores in the UK and Ireland in jeopardy.
Chair of the business and trade committee Liam Byrne is reportedly to table an urgent question in parliament asking what the government can do to protect jobs.
Andy Burnham has also questioned why Poundland owners Gordon Brothers rejected a recent solvent takeover offer from the Irish real estate firm Martin Property Group.
Several retailers including Tesco, The Times reports, have expressed an interest in buying some of the discount retailer's portfolio of shops.
FSTE100
The UK's flagship share index, the FTSE 100, was down 9 points at 10,709 shortly after opening this morning.
Brent crude oil futures were up 2.05%, sitting at $106.92 a barrel this morning.
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