Thousands of jobs are at risk as high street chain Poundland is reportedly on the verge of collapse.
Sky News has reported that the directors brought in less than two weeks ago to steer the chain through its emergency sale process are close to walking away over a disagreement with majority owner Gordon Brothers.
Three board members who were only appointed on October 15 are now expected to resign, plunging the future of Poundland, which has branches on Union Street and at Berryden, into doubt.
Sources told Sky News the disagreement centres on Gordon Brothers' decision not to accept a solvent offer for the company from Martin Property Group, which meant that Poundland was increasingly likely to be broken up after being placed into insolvency proceedings.
If the company was broken up, it would place thousands of high street jobs in jeopardy, with a filing for administration possible within hours of John Healey's inaugural Budget as chancellor.
Although hopes of a rescue deal appear to be fading, they could be revived should a revised offer be received today.
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