Poundland faces potential collapse by Sept. 7 without court approval for a £60M funding plan.

High street retailer Poundland is at risk of running out of money by September 7 if a restructuring plan is not approved by the High Court. The plan seeks to provide £60 million in additional funding, bringing total investment to £90 million, and would allow the company to close 68 stores and reduce rents. The closures will put around 1,000 jobs at risk, and the company plans to cease online sales. Without approval, Poundland may enter administration.