Poundland owner extracted millions when chain was on ‘knife-edge’, MPs say

The owner of Poundland has been accused of extracting millions from the budget retailer while it was on a 'knife-edge'.

MPs say that the retailer's management is seeking a two-week extension of legal protection from creditors in the high court.

The retailer employs 12,000 people and operates 600 stores in the UK and Ireland.

The management has not yet commented on the allegations.