High street bargain store chain Poundworld, which has branches in Burton and Swadlincote, could be closing 100 outlets.
The chain has stores in Burton's Cooper's Square shopping centre, and another at the Hepworth Retail Park, Swadlincote.
A restructure plan could shut roughly a third of its stores, with more than 1,500 jobs potentially at risk, according to our sister title, Birmingham Live.
Poundworld is considering entering into 'Company Voluntary Agreement', which is an insolvency procedure that would see it cut rents and close stores.
These plans could see 100 of 355 stores shut.
A number of household names have pursued similar agreements this year due to rising costs and a squeeze on consumer spending, including Prezzo, Carpetright and New Look.
Poundworld is owned by private equity firm, TPG Captial, who are expected to announce the full terms of this agreement next month.
Shop until you drop
Landlords can then vote whether to approve the proposal.
TPG Capital also owns restaurant chain Prezzo, which recently secured the backing of creditors for a 'Company Voluntary Arrangement'. The plan will allow the Italian-themed chain to exit unprofitable branches and secure rent reductions.
A total of 94 of Prezzo's 300 outlets will close, with around 500 jobs understood to be in the firing line, although many staff will be redeployed at other restaurants. The CVA proposal was backed by 88 per cent of the creditors.
