Poundland saved from administration as judge approves restructuring plan

Poundland has already shut multiple stores as part of the restructure (Liam McBurney/PA) - (PA Wire)

Poundland has avoided entering administration after a restructuring plan was approved by a judge at the High Court, days before the company was due to run out of money.

Barristers for the retailer had told a hearing earlier on Tuesday that it would be placed into administration by Friday and was set to run out of money by September 7 if the plan was not approved.